BlackRock Gold & General Income Units
HL comment
Our view on this Fund
Gold shares have been hit hard by the wider market volatility. However, there are many reasons to suggest the long term outlook for gold remains favourable as jewellery demand has been picking up while gold mine production has been flat or falling. Demand for physical gold has been very strong in the financial crisis but gold shares look under valued in comparison which could present an opportunity.
12-11-2008
Information from the fund manager
Please note: The information in this box has been provided by, and is issued by, the fund manager and not Hargreaves Lansdown.
HL group comment: BlackRock
Our view on this Fund Management Group as a whole
BlackRock was founded in 1988 primarily as a specialist in fixed income. They are one of the largest fixed income managers in the US today. In September 2006, they merged with Merrill Lynch which resulted in a significant increase in their assets under management and, more importantly, transforming the business into a truly global one. The marriage with Merrill Lynch Investment Managers has given BlackRock a massive presence in the UK with the expertise in equties. They also have an extraordinary global scale which enhances their ability to serve institutional and individual investors worldwide. When the two companies merged in 2006, it was rebranded as BlackRock Merrill Lynch, which is how they are now known in the UK. However, we expect the Merrill Lynch name to be dropped in due course and the firm will be better known as BlackRock. As for the key fund managers, it is business as usual and the merger has had little impact on their day to day fund management responsibilities.
15-09-2007
HL sector comment: Specialist
Our view on this sector
There is a wide range of funds in this sector with a mix of property, financials, agriculture and single country funds to name a few. The specialist sector has been hit hard in performance terms in recent months as both financials and commodity prices have fallen heavily. There are many quality funds in this sector, therefore investors need to look through the short term performance numbers. Specialist funds tend to be more volatile than broader based funds.
20-11-2008