BlackRock appoints co-manager for UK income fund
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BlackRock has appointed Adam Avigdori to co-manage its UK income fund.
Avigdori will work alongside Nick McLeod-Clarke on the £309m fund, which is top quartile in the IMA UK equity income sector over the past three years.
Avigdori joined BlackRock following the merger with Merrill Lynch Investment Managers in 2006. He is currently a portfolio manager and analyst on the UK equity team, where he is responsible for covering property and construction stocks.
Avigdori has worked closely with McLeod-Clarke on the fund since December 2008 as well as managing other mandates which mirror the UK income fund and others run by McLeod-Clarke.
Earlier this year, BlackRock’s Alex Hoctor-Duncan said the firm’s UK equity income fund has become the sleeping dog of the sector and is starting to garner a large IFA following in the market.
Hargreaves Lansdown senior analyst Meera Patel says: “It is on our radar and Nick McLeod-Clarke has done well in what is an increasingly competitive part of the market. We just need to see that performance continue for a bit longer.”
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