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- BlackRock Income & Growth : BRIG – interim results
BlackRock Income & Growth has published figures for the six months to the end of April 2014. The net asset value total return for the period was 4.1% vs. 2.6% for the FTSE All-Share Index. The return to shareholders was 2.6% (the discount widened from 0.9% to 2.4%). The dividend was increased by 10% to 2.2p.
The management fee arrangements have been changed – the new fee is 0.60% of the company’s market capitalisation but is capped at 0.6% of the company’s net assets. Ryanair, Admiral, esure, Carphone Warehouse and Astra Zeneca all contributed to the result. On the negative side, the manager singles out Tate & Lyle and Barclays as well as a number of growth stocks as markets rotated into cyclicals.