BlackRock to build securities lending
22 November 2010 London
Image: Shutterstock
BlackRock is to launch a stock lending programme that will see 37 of its retail funds lend their assets.
The programme, which starts on January 17 2011, will include the UK Absolute Alpha, UK Dynamic, Special Situations, UK, Cautious Portfolio and UK Income funds amongst others. The total value of assets is over £7 billion.
Under the new programme, 60 per cent of the income from securities lending will go to the funds, with the remaining 40 per cent going to the lending agent BlackRock Advisers. Funds which are already lending securities will receive a 70 per cent cut, in line with existing agreements.
The programme, which starts on January 17 2011, will include the UK Absolute Alpha, UK Dynamic, Special Situations, UK, Cautious Portfolio and UK Income funds amongst others. The total value of assets is over £7 billion.
Under the new programme, 60 per cent of the income from securities lending will go to the funds, with the remaining 40 per cent going to the lending agent BlackRock Advisers. Funds which are already lending securities will receive a 70 per cent cut, in line with existing agreements.
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