BlackRock, the US asset management giant, will launch a retail version of its UK Focus Fund by the end of October, the asset manager confirmed to WealthBriefing. It will hold around 20-25 of BlackRock’s best equity ideas, without benchmarking constraints, hence the "Focus" in its name.

The fund is to be run by managing director and co-head of UK equities Luke Chappell and director Imran Sattar.

The initial issue will be capped at £350 million ($553 million).