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Home > Investments > Investment Trusts

BlackRock confirms US income trust launch

Highly anticipated income trust launch expected to gain listing next month.

By Nick Reeve | Published Sep 03, 2012 | comments

BlackRock is seeking to raise more than £100m for its new North American Income investment trust.

As reported by Investment Adviser in May, the new trust will be managed by Bob Shearer and Kathleen Anderson, based in New Jersey in the US.

The large-cap-focused trust will target a 4 per cent dividend yield, paid quarterly, and will aim to outperform the Russell 1000 Value index. Its management fee will be 1 per cent, and it will employ gearing of no more than 20 per cent.

BlackRock is currently applying to list the trust on the London Stock Exchange with a view to gaining admission in October.

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