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On 26 February 2026, BlackRock Throgmorton (THRG) and BlackRock Smaller Companies Trust (BRSC) announced plans to merge. The combined trust will be managed by BRSC's Roland Arnold and THRG's Dan Whitestone, with a 75% stock overlap. The proposal includes a management fee cut, lowering the ongoing charges ratio by nearly 20 basis points to 0.63%, a performance-related tender offer every three years, and the removal of Saba from the register.
BlackRock Throgmorton Trust - Update from QuotedData
26 February 2026
Stronger together
BlackRock Throgmorton (THRG) and BlackRock Smaller Companies Trust (BRSC) have announced plans to merge, creating a larger, more liquid, and lower-cost trust. The combined trust is to be managed by BRSC's Roland Arnold and THRG's Dan Whitestone, both highly experienced in UK smaller companies, and is expected to provide a platform for future growth.
The portfolios are already well aligned with 75% overlap in their stocks, which should make the merger process smooth. The management fee is to be cut, lowering the ongoing charges ratio by nearly 20 basis points to 0.63%, making the combined trust one of the most cost-effective among its peers.
We support the proposal, which also includes shareholder-friendly measures such as a performance-related tender offer every three years, and removes Saba from the register.
Full Research:
https://quoteddata.com/research/blackrock-throgmorton-stronger-together-qd/
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