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Avigdori gets co-manager on second BlackRock fund

by Robert St George on Sep 25, 2013 at 08:51

Avigdori gets co-manager on second BlackRock fund

Mark Wharrier has been confirmed as co-manager of the BlackRock Income & Growth trust alongside Adam Avigdori.  

Wharrier was previously appointed co-manager of the £600 million open-ended BlackRock UK Income in August having been poached by BlackRock from NewSmith Asset Management, where he was a portfolio manager in the UK equity team.

Avigdori (pictured) had been without a co-manager since Nick McLeod-Clarke stepped down from both of the funds in April due to ill health.

Since McLeod-Clarke’s departure, BlackRock UK Income has shrunk by almost £100 million.

Both the open and closed-ended funds have performed weakly in recent years: BlackRock UK Income is ranked 88th of 93 in its UK Equity Income sector over three years, with a total return of 28%; BlackRock Income & Growth is last in its peer group of 24 through the same period, having generated 24%. The FTSE All Share has returned 35% in the same time.

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