Natural resources specialist Richard Davis has stepped down from his fund management responsibilities at BlackRock after 19 years.
A BlackRock spokesperson told Wealth Manager that Davis (pictured) had made the decision ‘to explore other career opportunities inside and outside of BlackRock’.
His principal UK fund was the £111 million BlackRock Commodities Income investment trust. Davis had headed the fund since its launch in 2005, during which time it returned 57% compared with an average of 30% from its peer group.
Davis will be succeeded on the trust by Olivia Ker as lead manager, with Citywire + rated Thomas Holl continuing as deputy manager. BlackRock has confirmed that the new team will follow the existing investment approach.
Davis has also stepped down as co-manager of three open-ended funds: the offshore £122 million BlackRock World Agriculture, and the on and offshore versions of the £20 million BlackRock Natural Resources Growth & Income strategy.