Mark Lyttleton’s BlackRock UK Absolute Alpha fund has been downgraded by Bestinvest after the IFA became “disappointed” with its performance.
The £1.3 billion fund has seen its Bestinvest rating cut to three stars in light of its three-year track record.
According to FE Trustnet, the fund has returned 6.2% over the last three years compared with IMA Absolute Return sector’s average of 14.4%.
Robert Harly, senior research analyst at Bestinvest, says: “The returns from the BlackRock UK Absolute Alpha have to a certain extent been hostage to this environment.
“Nevertheless we remain disappointed with the return profile of the fund over the course of the past three years.”
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