The BlackRock North American Income Trust has raised £65m, with money predominantly invested by institutions and wealth managers.
The trust has applied for 65 million ordinary shares, priced at 100p each, to be listed and traded on the London Stock Exchange’s main market expected to take place on 24 October 2012.
Blackrock’s chairman of specialist group Jonathan Ruck Keene says: “Following this initial offering, we anticipate issuing further equity in the near future as clouds lift over current US electoral uncertainty.
“This new world of investing isn’t standing still and the launch of BlackRock North American Income Trust suggests that investors understand the need to look beyond today’s headlines and focus on tomorrow.
He adds: “The fund appeals to investors seeking diversification and access to dividend income and quality equities from our talented fund managers who have demonstrated a strong long term performance track record in US equity income.”
The BlackRock North American Income Trust will invest into a diversified portfolio of predominantly US large-cap quoted companies that exhibit the ability to pay and grow dividends.