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Troy hires BlackRock's AA-rated Wharrier for £3.5bn income arm

Troy hires BlackRock's AA-rated Wharrier for £3.5bn income arm

Troy Asset Management has hired Citywire AA-rated BlackRock fund manager Mark Wharrier for its top performing equity income franchise.

Wharrier (pictured) will work alongside Francis Brooke and Hugo Ure on the £3.5 billion Trojan Income Fund, which has returned 35.5% over the three years to the end of May versus a peer group average of 25.1%. Meanwhile, Wharrier has returned 35.7% on the BlackRock UK Income fund over the same time frame.

The funds ranking seventh and sixth respectively in their peer group over the three years. 

Wharrier will also work on the firm's £229 million Troy Income & Growth Trust

Wharrier co-managed the £412 million BlackRock UK Income fund since 2013. His responsibilities will be taken up by co-managers Adam Avigdori and David Goldman.

Prior to BlackRock, Wharrier worked at NewSmith Asset Management and before that he was at Merrill Lynch Investment Managers, which he joined in 1994 when it was Mercury Asset Management.

'The Troy UK equity income franchise has grown significantly in recent years and incorporates not only the Trojan Income Fund and the Troy Income & Growth Trust,' said Brooke.

'The addition of a third experienced fund manager will strengthen our team and both Hugo and I are delighted that Mark is joining us.'

'I have known Mark for many years and his investment approach and style is highly complementary to our own.  He brings significant investment experience and has an excellent track record in managing UK equity income portfolios.'

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