The after effects of BlackRock's changes to its active equity business in the US have begun filtering through amid a raft of changes to the managers on investment funds sold to UK investors.
Earlier this week, the fund giant announced a new strategy for active management, as it re-organised its US-domiciled business to include more data-driven and factor-based stock selection, while separating out its high-alpha funds.
The changes will lead to several fund manager departures and displacements in the US affecting some $30bn (£24bn) of assets under management.
However, Investment Adviser understands the changes mean teams will be replaced on BlackRock's £105m Global Equity, £87m US Opportunities, £84m US Dynamic and £175m Emerging Markets funds, sold in the UK.
The Global Equity fund, managed by Ian Jamieson, Tom Callan and Simon McGeough, will be handed over to London-based Stuart Reeve, of the firm's £160m Global Income product, and co-manager Andrew Wheatley-Hubbard.
US Dynamic, run by Peter Stournaras, will be handed to US-based managers Todd Burnside and Joe Wolfe, while US Opportunities, managed by Mr Callan and Mr Jamieson, will be taken over by senior BlackRock investors Tony DeSpirito, David Zhao and Franco Tapia.
The Emerging Markets vehicle, run by Dhiren Shah and Luiz Soares, will fall under the remit of soon-to-be Hong Kong-based Gordon Fraser, and Andrew Swann.
BlackRock originally stressed in an announcement that the changes would entail "no re-positioning of active equity products currently managed outside of the US". However the affected funds are sold into the UK.
The firm said not all of the removed managers would leave the firm, with some taking on consulting roles and others being deployed to different areas of the business.
