View more on these topics

BlackRock poaches NewSmith manager for underperforming UK Income fund

Scam-Logo-700.jpg

BlackRock has hired NewSmith’s Mark Wharrier to work with Adam Avigdori on the £583m BlackRock UK Income fund.

Wharrier, who joins BlackRock in mid-September, is a co-manager of the flagship NewSmith UK Hedge fund, which invests in the FTSE 350.

He is also co-manager on the NewSmith UK Equity fund, which is a Ucits IV vehicle.

Avigdori, who has worked as co-manager on the BlackRock UK Income since 2009, has experienced poor performance with the fund, which is fourth quartile in the IMA UK Equity Income sector over three years to 19 August 2013.

The fund has returned just 8.22 per cent over one year, placing it fourth quartile against the peer group’s average return of 20.54 per cent.

It also made a 2.70 per cent loss over the past three months, underperforming the slight average gain seen in the sector.

BlackRock UK Income’s cumulative performance to 19 August 2013

 
BlackRock UK Income -2.70% 2.27% 8.22% 23.81% 51.62%
0.66% 8.98% 20.54% 44.81% 53.52%
-3.34% -6.15% -10.22% -14.50% -1.24%
  97 / 99 95 / 97 95 / 96 87 / 88 41 / 72
4 4 4 4 3

Source: FE Analytics

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com