US fund manager BlackRock, which manages more than $US4.7 trillion ($A5.96 trillion) in assets worldwide, has built up a five per cent stake in Fletcher Building.

The US fund manager has declared it held 34.4 million shares, or 5.005 per cent, of the Auckland-based construction and building supplies firm through various related companies, according to substantial shareholder notice lodged with the NZX. The notice covers trading in the shares starting in November, and includes purchases at…