BlackRock are flat out crazy. Their funds in the Australian Share Fund has plummeted from $12 billion to about $200m on last check. There is talk it's equity arm will be wound up. BlackRock itself is advertising its new funds, with different branding and strategies (mostly fixed income).
BUT BUT
they are accepting new investors into their equity fund! at the same time it's been cut to irrelevance. The worst part of it is that investors buying into the old Australian equity fund are slugged with a 5% buy/sell spread fee. Geniuses.
Only 11 million shares to go from 27 July. The volume is high atm, so it should disappear pretty quick.
AMX Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held
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