We have decided to remove the positive prospect rating on the BlackRock Global Multi-Asset Income fund. Whilst the fund has met its income target, its capital return has been less competitive than we would have hoped for over the nearly four years since the fund has been following its current strategy. Despite our expectations for the growth of multi-asset income strategies in the fund market more generally, this fund has reduced in size over the last few years and the focus of BlackRock for growing the franchise has remained focused on the SICAV fund range. A combination of these factors means we no longer think the fund is compelling as a positive prospect for our Academy of Funds.
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