Blackrock are amending the investment objective of their Cash Fund. This is a fund that investors tend to use for short-term holdings or something akin to a deposit fund. The changes come into effect on 30th December 2011. I am not unduly concerned by this change, but will be keeping an open mind, there are numerous alternatives for a similar fund, but this is one of the better ones generally. If you have holdings in this fund and want to discuss the changes with me please get in touch – though I suspect it will not be high on the Christmas “to do” list. If I believe that a change should be made I will write to you about this. I do not believe that there is anything to be particularly concerned about, however the timing of the announcement could have been rather better than during the run up to Christmas.

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