BlackRock to launch offshore mining fund for Hambro
BlackRock is launching a mining fund for star commodities manager Evy Hambro, Investment Adviser understands.
The Luxembourg-domiciled fund is set to launch this month, subject to regulatory approval, and will focus on small to medium companies in the development and exploration space.
The fund will be managed by BlackRock’s natural resources team, led by Mr Hambro.
The manager currently runs the firm’s £7.9bn BGF World Mining fund which has delivered 16.4 per cent over the five year period to April 20.
The fund’s performance has dropped off over the one year period though, returning a loss of 22.5 per cent over the term.
Mr Hambro also manages BlackRock’s £2.9bn Gold and General fund, which has returned 62.2 per cent over five years, according to Morningstar.