Why the Change of Heart at This Popular Investment Trust?

Why the Change of Heart at This Popular Investment Trust? By Nick Sudbury On 1st August the Board of the BlackRock Income Strategies Trust (LON:BIST) announced that it was going to review the fund's investment objective and policy. The news came as a surprise to its shareholders, many of whom had invested after the new mandate was implemented last February. BIST's current remit is to provide investors with a long-term source of income that grows in line with inflation, and with more capital stability than an all equity portfolio. It uses a multi-asset approach to target a total portfolio return equal to the UK Consumer Price Index (CPI) plus 4% per annum over the medium term (5-7 years) before ongoing charges of 0.68%. In their statement the Board said that they had been considering the objective in the context of the prevailing market conditions and investment outlook post the recent UK Brexit Referendum. Interest rates have fallen since the policy was adopted last February and "there has been a significant decline in the universe of investments which could support a multi-asset approach to meeting the stated investment objective and total portfolio return target"… Click Here To Read The Full Story The Master Investor Market Report The FTSE 100 closed the day at 6,893.92, a decrease of 47.27 points. The FTSE 250 fell 120.77 points to finish at 17,808.50. The FTSE All Share dropped 25.07 points to finish at 3,748.86. The FTSE AIM All Share finished at 784.15, down by 0.51 points. Miner Antofagasta (ANTO) said that revenues during the first half of 2016 were $1.44 billion, 18.5% below those in the comparable period despite a 6.6% increase in copper production to 323,000 tonnes as the price environment remained challenging.  Operating profits fell by 9.2% despite good progress being made in terms of cost reduction. Management expect that the market will begin to significantly strengthen during 2018. The shares rose by 8.66% to 558.50p. Get our August issue while it's hot! Click HERE to read. Shares in plastic products manufacturer Polypipe (PLP) dropped by 8.90p to 280p despite the company's revenues for the first half of 2016 climbing by 31% to £233.3 million and pre-tax profits rising 29% to £29.9 million. Management said that the firm's recent orders were in line with normal seasonal patterns and that they had yet seen any impact from the recent vote to leave the European Union. AIM-listed packaging manufacturer Powerflute Oyj (POWR) has reported lower revenues of €176.1 million (£152.8 million) for the six months ended 30th June, but profits before tax rose to €18.5 million (£16 million). The fall in sales was largely in the paper packaging division, which suffered from both lower demand and production as mechanical faults caused a greater frequency of mill downtime. The shares climbed 6.93% to 73.25p. Tomorrow's news today Admiral (ADM) will release interim results. Quote of the day "The past always looks better than it was. It's only pleasant because it isn't here." - Finley Peter Dunne Latest Stories Chart of the day: Sound Energy By Zak Mir Sound Energy has been one of the small cap phenomena of the year to date, but it is ironic that the big bull run here took quite a while to get off the ground… Click Here To Read The Full Story Is Morrisons worth bagging ahead of the half-year results? By Robert Sutherland Smith With the half-year to end July now over, the Wm. Morrison share price (192p last seen) has behaved robustly. The company which a year ago looked too highly geared and devoid of ideas seems to have put its house in order... Click Here To Read The Full Story The Evil Diaries: Orosur, Geiger Counter and Pantheon By Evil Knievil Orosur (OMI) reported this morning in respect of the year ended 31st May 2016. Debt is now well under control and, of course, since the year end, trading conditions have considerably improved… Click Here To Read The Full Story Is There a Bubble in Consumer Defensives? By John Kingham Some of the biggest gainers from the UK's decision to leave the EU were internationally-focused consumer defensive stocks. This comes on the back of what has already been a multi-year bull run for consumer defensives as investors look for low risk yieldt… Click Here To Read The Full Story Chart of the day: Andalas Energy and Power By Zak Mir Having been trolled for Tweeting regarding a possible turnaround on a technical basis at Andalas Energy last week, I thought it was only fair to go for a formal look at the charting situation, if only to wind up the troll even further… Click Here To Read The Full Story Join the movement on social media: Copyright 2016 Master Investor Ltd, All rights reserved. You are receiving this email because you opted in at our website. 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