From 7 November 2013 the fund’s A and D share classes were closed off to subscriptions and a preliminary charge was placed upon new FA and DD share classes.
The initial charges on these new share classes – 1 per cent for intermediaries and 5 per cent for direct investors – were installed to limit the fund to a £2.5bn capacity.
With the fund staying within this limit the 1 per cent preliminary charge has now been scrapped though direct investors will still have to pay up to 5 per cent in order to access the fund.
These changes will take effect from 20 August.
BlackRock has told investors: “It should be noted that the capacity for the BlackRock European Dynamic fund has not changed and the limit of £2.5bn remains in place.
“Should the fund approach that limit, we may revisit our decision to waive the charge. The FA and FD classes will be available until the fund’s AUM reaches £2.5bn. At this point, they will be closed to further subscription.”