As reported by Portfolio Adviser in January, the fund will sit in the BlackRock Strategic Funds Sicav and will seek to achieve a positive absolute return for investors regardless of market movements.
At least 70% of the Americas Diversified Equity Absolute Return Fund will be invested in equities and equity-related securities giving exposure to companies listed in the US, Canada and Latin America.
Savi and Cooke are both managing directors within the scientific active equity (SAE) team at BlackRock and will be paid a performance fee of 20% over the hurdle rate.
The fund will be benchmarked against the three-month US dollar Libor rate and has an AMC of 1.5%.
Alex Hoctor-Duncan, head of EMEA retail sales at BlackRock, said: "Investors in the fund will benefit from the BlackRock SAE team’s rigorous research programme which aims to identify potential market inefficiencies, highlight those that are economically exploitable and gather empirical evidence that validates their ability to predict active returns.
"The fund will provide investors access to a broad range of fundamental, behavioural, statistical and technical investment themes covering different time horizons. The result will be a highly diverse and balanced portfolio seeking to achieve a positive absolute return for investors regardless of market movements."
