Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

BlackRock commodities veteran steps down

BlackRock commodities veteran steps down

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.

Co-manager Desmond Cheung will now take sole charge of World Agriculture, while Cheung and Catherine Raw will join co-managers + rated Joshua Freedman and Holl on Natural Resources Growth & Income.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter