Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nyse  >  BlackRock, Inc.    BLK

Delayed Quote. Delayed  - 08/28 04:05:27 pm
311.23 USD   -1.03%
08/28 Investors still in the dark as cyber threat grows
08/27DJMSCI Ejects Hanergy From Indexes--Update
08/27DJMSCI Removes Hanergy From Indexes
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

BlackRock, Inc. : BlackRock loses veteran UK fund manager

03/25/2013 | 07:19am US/Eastern

Fund management group BlackRock has parted company with one of its longest serving British-based fund managers, prompting it to reshuffle its UK equities team and merge two of its funds.

Mark Lyttleton, managing director on the UK equity team, which manages over 21 billion pounds, will leave the firm at the end of April, BlackRock said on Monday.

Nick Little, currently a director on the UK equity team, will take control of Lyttleton's UK Dynamic fund which will be merged into the BlackRock UK fund.

Nigel Ridge, a managing director at the firm, will manage the UK Absolute Alpha fund with existing co-manager Nick Osborne.

"Nick Little, Nigel Ridge and Nick Osborne are key members of the BlackRock UK Equity team, which is one of the largest in London ... and are able to draw upon the strength and depth of the broader team," BlackRock said.

According to Lipper, a Thomson Reuters company that tracks the fund industry, Lyttleton's UK Dynamic and UK Absolute Alpha funds have seen combined net outflows of about 900 million pounds over the 12 months to the end of February.

Returns over the year have also underperformed - 3.3 percentage points below the peer group average for the Absolute Alpha fund, and 8.7 percentage points for the UK Dynamic product according to Lipper data.

Lyttleton, who took a three month leave of absence in 2012, traces his career at the firm back more than 20 years. He joined Mercury Asset Management in 1992, later acquired by Merrill Lynch which in turn merged its fund unit with BlackRock in 2006.

(Reporting by Chris Vellacott; Editing by Mark Potter)

React to this article
Latest news on BLACKROCK, INC.
08/28 Investors still in the dark as cyber threat grows
08/27DJMSCI Ejects Hanergy From Indexes--Update
08/27DJMSCI Removes Hanergy From Indexes
08/27DJMSCI Ejects Hanergy From Indexes--Update
08/27 BLACKROCK : BLLB Partners Ltd trading as BLLB ; Public Notices
08/27 ADIDAS : Release according to Article 26, Section 1 of the WpHG with the objecti..
08/27 DGAP-PVR : Linde AG: Release according to Article 26, Section 1 of the WpHG
08/26DJBlackRock Embraces Robo Finance Advice with Acquisition of FutureAdvisor
08/26 BlackRock to acquire robo-adviser
08/26 BLACKROCK : to Acquire FutureAdvisor
Advertisement
Chart
Duration : Period :
BlackRock, Inc. Technical Analysis Chart | BLK | US09247X1019 | 4-Traders
Income Statement Evolution
More Financials