The BlackRock Asia Fund will be managed by Andrew Swan, head of the firm’s Asian fundamental equities team, and it will aim to mirror the investment strategy of his offshore BGF Asia Dragon Fund.
Swan joined BlackRock after 17 years with JP Morgan in August 2011 and since then has helped to restructure the investment process across the fund range.
Swan said the current market offers an attractive entry point for long term investors, and changes in consumption, income growth and demographics are reshaping the investment landscape in Asia.
He said: “ For some Asian economies, the historic investment-led growth dynamics of the past are fading. While in other parts of the region, particularly India and Southeast Asia, the demand drivers of growth are increasingly being supported by domestic demand, enhanced incomes and growing young populations.
“With a total population in excess of 600 million people, we are finding exciting investment opportunities in ASEAN markets where economic growth has tripled in the past 10 years surpassing India and Korea, and is forecast to be one of the fastest growing regions in the world.
“Furthermore, the growing Chinese middle classes are likely to become more significant drivers of economic growth in the future as their consumption patterns evolve. The number of Chinese households with disposable incomes over $10,000 surpassed that of the USA in 2012.”
The fund has a minimum investment amount of £500, with initial fees of 5% and an annual management fee of 1.50%.
BlackRock completed its purchase of Credit Suisse’s ETF business this morning.
