BlackRock Investment Management announced that it closed the BlackRock Global Multi Asset Income fund on 6 April 2020 and trading in the fund ceased on 31 March 2020.
BlackRock have said that they believed closing the fund was in the best interests of investors, as it was too small to continue pursuing the investment strategy and had little prospect of growing.
For holdings that are held on the Fidelity FundsNetwork platform, they have confirmed that the money resulting from the fund closure is held as cash on client accounts and will retain the ISA wrapper if the fund was held in an ISA. You can choose to withdraw this cash (though please bare in mind you would lose the ISA wrapper when doing this) or alternatively you can switch into a new fund and retain the ISA wrapper.
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- uploaded - 13 May 2020