BlackRock launches EM absolute return fund

BlackRock has launched an Emerging Markets Absolute Return fund for managers Sam Vecht and Henry Wigan.

The latest absolute return fund to target the region, it will seek to deliver a positive absolute return in all market conditions using long and short equity positions. The fund will hold between 40 and 70 stocks in total, domiciled in emerging markets or deriving most of their profits from those markets, with a market cap above $1bn. The benchmark for the fund is 3 month US dollar Libor. The investment style will be a blend of proprietary macroeconomic research and bottom-up company analysis, with Vecht (pictured) looking for opportunities to go both long and short of companies. T...