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BlackRock gold and general manager Birch set for sabbatical

BlackRock gold and general fund manager Graham Birch is to go on sabbatical for the remainder of 2009.

Evy Hambro is to take on the role of co-manager on the fund with immediate effect, with Birch remaining on the fund until the end the month. Hambro is already co-manager with Birch across a number of BlackRock’s existing offerings, including the world mining fund and the world gold fund.

Birch has managed the £1534m gold and general fund since 1999. The fund has returned 107.6 per cent over the past five years, according to figures from Morningstar. The fund has returned 32 per cent in the past 3 months alone.

BlackRock managing director Alex Hoctor-Duncan says: “Evy Hambro has been co-manager with Graham on almost every fund he runs at BlackRock barring the gold and general fund making this decision a logical one. We have a wealth of experience on the fund and it will continue to grow in strength.”

Hambro began his investment career at Mercury Asset Management in 1994 and was one of the members of the team to be acquired by Merrill Lynch in 1997.


Fined duo join St James’s Place

St James’s Place has taken on two directors of a firm which was recently fined £28,000 for failing to provide suitable advice.

Littlewood set for retail return

Artemis fund manager William Littlewood is set to make a return to the retail market with the launch of an absolute return type fund later this year, Money Marketing understands.

Goodwin took 2.7m on pension

City minister Lord Myners has admitted to the Treasury select committee that he failed to ask the board of Royal Bank of Scotland how much ex-chief executive Sir Fred Goodwin would ultimately get for his pension. Myners also revealed to MPs that Goodwin had taken a 2.7m cash advance on his pension.

Don’t think twice

There was yet another early day motion laid in the House recently on the subject of enforced annuitisation at age 75 and the potential 82 per cent tax that can hit the pension savings of people over this arbitrary age. This latest EDM once again calls on the Government to consider legislation to alleviate this exorbitant tax situation.

Graphic Content – August

Given the release of employment data from the US on 5 August, we wanted to focus on employment data in this month’s Graphic Content. The Graphic Content below shows us that young and middle-aged workers were hit the hardest by the Great Recession and have never caught up. Since the job market started to recover […]


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