On the 3^rd November 2015, and following The Adviser Centre Monthly Review Meeting on the 28^th October 2015, we moved the BlackRock UK Income fund to the Recommended list.  The fund previously featured on The Adviser Centre's Positive Watch list.

This long-established fund has been re-invigorated under Mark Wharrier’s stewardship.   He joined BlackRock in 2013 to join existing co-manager, Adam Avigdori.  Colleague David Goldman has recently become a third co-manager.  The three managers bring complementary skills and experience to bear on the portfolio.

The fund is flexibly managed and the managers have high expectations for its total return over the long term.  It is reasonably concentrated in nature and their higher conviction stock picks are often strongly represented in the top holdings.  The fund’s clear framework of 70% in yield and strong free cashflow companies, 20% in growth companies and 10% in turnarounds ensures diversification and supports the income requirement.

We regard the fund as a higher performance offering within the IA UK Equity Income sector, given its flexible nature and emphasis on concentrated stock selection.  We highlight a strong element of objectivity in their approach, which reinforces their willingness to adjust positions pro-actively in the event of a changed valuation or investment case.

We are pleased to include this revitalised fund under its new management team in our Recommended list.