Following the announcement that the managers, Nigel Bolton and Simon Hunter, of the BlackRock GF European Focus fund will relinquish their portfolio management duties as of today (13th June 2019), we have taken the decision to suspend our AA rating of the fund. Both remain at the firm; Mr Bolton is increasing his focus on his CIO investment leadership responsibilities, whereas Mr Hunter will continue to lead the team's consumer sector coverage. We take considerable comfort that Stefan Gries, the co-manager of the BlackRock European Absolute Alpha fund, will be taking over responsibility for the fund. We retain our A rating of the BlackRock European Absolute Alpha fund. We will be meeting with Mr Gries in the very near future to discuss his plans for the fund and will keep investors updated.