InvestmentsMar 19 2015

Commodities specialist Raw to depart BlackRock

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Commodities specialist Raw to depart BlackRock

The co-manager of BlackRock’s £716m World Mining investment trust Catherine Raw is set to leave the company after almost a decade at the group.

Ms Raw, who is a member of BlackRock’s natural resources equity team and is responsible for the gold and mining sectors, has been with BlackRock since 2006.

Prior to that, she worked on both the gold and mining funds at Merrill Lynch Investment Managers, which she joined in 2003 and which merged with BlackRock in 2006.

Following Ms Raw’s departure on April 30, the BlackRock World Mining trust and the BlackRock Global fund will be managed by her current co-manger Evy Hambro and Olivia Markham.

Ms Markham currently co-manages the BlackRock Commodities Income investment trust and is a portfolio manager responsible for the gold and mining sectors. She joined the firm in August 2011 from UBS, where she was the head of the European mining team.

The £716.8m BlackRock World Mining trust has struggled recently. The share price has fallen 33.1 per cent in the past year, compared to the Euromoney Global Mining index, which has lost 11.5 per cent, according to data from FE Analytics.

Ms Raw also helps manages the onshore and offshore versions of the BlackRock Natural Resources Growth & Income fund.

After Ms Raw leaves, these will be co-managed by Desmond Cheung, Joshua Freedman and Tom Holl, her current colleagues.