BlackRock has changed the name and the investment objective of the £8.8m BlackRock World Resources Income fund.
The fund, co-managed by Josh Freedman, Richard Davis and Tom Holl, is now called the BlackRock Natural Resources Growth & Income fund.
The investment objectives of the fund have also been amended to say that the fund will seek to generate “capital growth” as well as the existing objective to target an “above average income”.
The change came into effect on April 5, following approval from the Financial Services Authority.
BlackRock said the changes would “have no impact on the fund” and were just implemented “to better clarify the fund’s focus”.
According to its latest factsheet, the fund has lost investors 7.7 per cent in the past year, compared to a 4.6 per cent drop in the value of its index, the S&P Global Natural Resources index.
