4th Mar 2014 11:20
LONDON (Alliance News) - Two BlackRock trusts Tuesday said manager Richard Plackett is to take a six-month sabbatical, meaning Ralph Cox will take responsibility for his responsibilities during his absence.
BlackRock Hedge Selector Ltd said Cox, co-manager of the BlackRock UK Emerging Companies Hedge Fund since its launch in May 2004, will assume full responsibility for managing the hedge fund while co-manager Plackett is on sabbatical for six months from April 1.
The hedge fund is the master fund of BHS Ltd's UK Emerging Companies Share Class and comprises one hundred percent of its investment portfolio.
BlackRock Throgmorton Trust PLC is the other affected trust, with Cox to take responsibility of its contracts-for-difference derivatives portfolio, which represented about 29% of its net assets as recorded on January 30. Cox has worked alongside Plackett in managing the contracts for difference portfolio. Cox will be supported by Dan Whitestone, a senior member of the UK Small/Mid Cap equity team.
Mike Prentis remains manager of the company's long-only portfolio.
Plackett was granted the sabbatical by BlackRock Investment Management (UK) Ltd.
Shares of BlackRock Throgmorton Trust were up 1.5% at 318.74 pence Tuesday, while those of BlackRock Hedge Selector were off 0.6% at 139.70p.
By Samuel Agini; [email protected]; @samuelagini
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Throgmorton Trust