BlackRock has replaced Hugo Tudor as manager on the £14m BlackRock UK Specialist fund with Luke Chappell and Imran Sattar, Investment Adviser can reveal.
The firm said Mr Tudor had been removed from managing the fund to concentrate on running “a number of institutional mandates”.
Mr Chappell and Mr Sattar have been co-managing the BlackRock UK Focus fund since its launch in October 2011.
A spokesperson for BlackRock said the managers plan to reposition the UK Specialist fund to “focus on a more concentrated portfolio of shares”.
The spokesperson said there are currently no plans to merge the Specialist fund with the UK Focus fund, which has a very concentrated, best ideas approach.
Mr Chappell, who is currently co-head of BlackRock’s UK equity desk, joined the firm as part of the merger with Merrill Lynch Investment Managers (MLIM) in 2006, having joined MLIM in 1998, while Mr Sattar has spent 14 years at BlackRock since joining as a graduate.