BlackRock’s small cap star Plackett gets co-manager
Colleague who has worked on BlackRock’s £1.4bn UK Special Situations fund for two years given promotion.
BlackRock’s £1.4bn UK Special Situations fund manager Richard Plackett is to have a co-manager from August 1.
Roland Arnold (pictured) joined BlackRock 12 years ago and has been working closely with Mr Plackett, head of the UK small and mid cap equity team, for the past 10 years and assisting him on the fund for the past two.
Mr Plackett said this made Mr Arnold the “natural choice” to become co-manager on the product.
The fund has delivered 129.6 per cent from when Mr Plackett took over in May 2004 to July 27 this year compared with the IMA UK All Companies sector average return of 63 per cent, according to FE Analytics.
The fund is top quartile over three and five years, the data provider added.
“The fund has grown significantly over the past eight years and the additional management resource Roland will provide will help to continue serving our growing client base,” Mr Plackett said.
“We enjoy debating our investment decisions and I am pleased to provide our clients with access to Roland’s long track record in managing small and mid cap equities.”
When Mr Plackett assumed management of the fund in 2004, the assets under management were £100m.