Bestinvest downgrades underperforming BlackRock fund

Bestinvest has downgraded Richard Turnill’s £146.6m BlackRock Global Equity fund to a sell rating for being a “consistent underperformer”.

The fund has been downgraded to a one-star rating: the lowest rating for a fund awarded by the investment advisory business.

Analyst Tom White says: “The fund gained a substantial following under the name Merrill Lynch Global Titans, but was renamed and rebranded when Merrill Lynch Investment Management was acquired by BlackRock in 2006.

“The fund has been a consistent underperformer in recent years, and current manager Richard Turnill’s lacks a record of outperformance.”