Bestinvest downgrades BlackRock UK Absolute Alpha fund

Mark Lyttleton’s BlackRock UK Absolute Alpha fund has been downgraded by Bestinvest after the IFA became “disappointed” with its performance.

Mark Lyttleton
Mark Lyttleton

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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