A successful secondary listing on the JSE of BlackRock's Greater Europe fund could see the international investment giant mulling the floating of further funds on the local bourse. Earlier this week BlackRock confirmed it would list on the JSE next month via the fast-track listings mechanism. The BlackRock Greater Europe Investment Trust, which holds a market capitalisation of £313-million (about R5.8-billion) based on its primary listing on the London Stock Exchange, is looking to raise around R650-million from local investors. The investment pitch, which will offer investors a rand hedge, is well-timed with an unconvincing medium-term budget policy statement this week smacking the rand exchange rate against major currencies. In the year to end August the BRGE fund managed a 23% return on a net asset value basis and 22.9% on a share price measure - slightly lagging the FTSE World Europe ex-UK index return of 26%. Willie Honeyball, a director of PSG Capital, said that after long del...
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