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Ex-BlackRock manager pleads guilty to insider trading


Former BlackRock manager Mark Lyttleton has pleaded guilty to two counts of insider dealing at Southwark Crown Court. 

He will be sentenced on 21 December.

At the end of September, the FCA announced Lyttleton had been charged with three counts of insider dealing between 2 October 2011 and 16 December 2011.

The two stocks concerned are EnCore Oil and Cairn Energy and were traded by Lyttleton through an overseas asset manager trading on behalf of a Panamanian registered company.

At the time Lyttleton worked in the fundamental equity team at Blackrock.

Formerly a star manager, he ran the BlackRock UK Absolute Alpha fund from its launch in April 2005 until April 2013, at one point managing £2bn in assets.

He was privy to inside information by both working on deals concerning the stocks or via conversations with colleagues.

He purchased shares a short time before information became public.

The offence is punishable by a fine or up to seven years imprisonment.



Ex-BlackRock star manager faces insider trading charges

The FCA has launched criminal proceedings against former BlackRock portfolio manager Mark Lyttleton for insider trading. Lyttleton is charged with three counts of insider dealing between 2 October 2011 and 16 December 2011. The offence is punishable by a fine or up to seven years imprisonment. Formerly a star manager, Lyttleton ran the BlackRock UK Absolute […]


BlackRock suffers $2.2bn retail outflows

BlackRock has suffered net outflows of $2.2bn in its retail long-term business in its third quarter, while its passives business iShares has seen net inflows totalling $51.3bn. Assets under management at the firm now stand at $5.1trn, up 14 per cent from the same period last year when they were $4.5trn. However, revenue was down […]


BlackRock invests £12.7m in P2P lending

BlackRock has emerged as the third biggest holder of the investment trust behind peer-to-peer lending platform Funding Circle, with an investment of £12.7m shares. The Financial Times reports the transaction was made in December according to Bloomberg data. The position marks the first time the fund group has offered retail investors exposure to peer-to-peer lending […]

Sub-Saharan Africa Near-Term Outlook

By Paul Caruana-Galizia, Neptune Economist

Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.


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