BlackRock’s Richard Davis steps down from fund management

BlackRock natural resources manager Richard Davis has stepped down from his fund management responsibilities.

The group said Mr Davis, who has been at BlackRock for 19 years, said he “has decided to step down from his current portfolio management responsibilities to explore other career opportunities inside and outside of BlackRock”.

It added: “We would like to thank him for his contributions to the firm and its clients and wish him well for the future.”

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BlackRock said Mr Davis is still an employee of BlackRock.

Mr Davis had been lead manager on the £112m BlackRock Commodities Income investment trust since its launch in 2005.

BlackRock said that Olivia Ker will take on the management of the trust, with Thomas Holl as deputy manager.

He was also a co-manager on the onshore £9.8m BlackRock Global Resources Growth and Income fund as well as the offshore version and the offshore BlackRock Global Funds World Agriculture fund.

Desmond Cheung and Catherine Raw are set to join Mr Holl and Joshua Freedman as co-managers of the Global Resources funds, while Mr Cheung will take on sole management of the World Agriculture fund.