BlackRock to soft-close Hibbert's European Dynamic fund

BlackRock is set to soft-close its £1.96bn European Dynamic fund, run by Alister Hibbert, while its European Absolute Alpha fund will be capped at £100m.

The existing A and D share classes in Hibbert's (pictured) European Dynamic fund will be closed on 7 November and replaced by new unit classes FA and FD. Intermediaries investing in the FA and FD class will pay a 1% initial charge, while direct investors buying the FA share class will pay up to a 5% charge, with both paid directly into the fund. The group said the strategy will continue to operate with the new classes until it reaches £2.5bn in size, at which point the new unit classes will be closed to further subscription. Additionally, the £56m European Absolute Alpha fund, laun...