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BIST pleased with investor response

09 April 2015 08:24

BlackRock Income Strategies Trust is pleased with investor response since outlining its new investment objective.

The company says that following the appointment of BlackRock as investment manager, the company's assets have been aligned in accordance with the new investment objective which is, over the medium term (5 to 7 years), to aim to preserve capital in real terms and to grow the dividend at least in line with inflation.

The company will target a total portfolio return of UK Consumer Price Index plus 4% per annum (before ongoing charges) over a 5 to 7 year cycle.

Chairman James Long said: "We have been very pleased with the response from investors since we made these announcements. Demand for shares has been consistent and we expect that to accelerate into the new tax year for savers attracted by the trust's focus on income and aim to preserve capital over the medium term."

At 8:24am: (LON:BIST) BlackRock Income Strategies Trust Plc share price was +0.75p at 135.25p

Story provided by StockMarketWire.com

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