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BlackRock's Richard Plackett to take six-month sabbatical
by Dylan Lobo on Mar 04, 2014 at 07:32
The Citywire + rated manager (pictured) will start his sabbatical on 1 April, with Roland Arnold taking sole control of the Citywire Selection fund.
Meanwhile Ralph Cox, will take control of the BlackRock UK Emerging Companies Hedge fund. Cox has been co-manager on the fund since May 2004.
Cox will also assume responsibility for Plackett's contracts for difference portfolio on the BlackRock Throgmorton Trust , which at 30 January accounted for 29% of the company's assets. Cox will be supported by Dan Whitehouse, a senior member of the firm's UK small and mid cap equity team, while Mike Prentis will continue to run the long only portfolio.
Plackett assumed charge of the UK Special Situations fund in June 2004. In the 10 years to the end of January the fund returned 206.5% versus a 133.6% rise in the FTSE All Share.
'After more than a decade at BlackRock, and twenty five years as an investor, Richard Plackett, managing director and portfolio manager on the UK Small and Mid Cap team, has requested and been granted a six month sabbatical which will commence on 1 April 2014,' BlackRock said in a statement.
'BlackRock fully supports this request from a long serving member of the portfolio management team. Roland Arnold, co-manager of the BlackRock UK Special Situations fund since 2012, will continue to manage the fund during Richard’s sabbatical. We look forward to welcoming Richard back in October.'
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by Dylan Lobo on Jul 28, 2014 at 08:03