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BlackRock UK Special Situations - Rating suspended
BlackRock has announced that Richard Plackett, manager of its UK Special Situations fund, has decided to retire. He will be stepping back from the fund in September, and departing BlackRock in December.
Going forward the fund’s managers will be Roland Arnold (currently co-manager) and Luke Chappell. Chappell is a large cap specialist and is responsible for the BlackRock UK Focus fund, essentially a FTSE 100 mandate.
BlackRock UK Special Situations has a strong track record under Plackett’s stewardship but has had a tricky few years, particularly in 2014 when the manager took a six month sabbatical. The fund has staged something of a recovery since Plackett’s return, though attributing this return to form to his return is, we think, unfair.
Following Ralph Cox’s recent departure, Plackett will be the second senior member of the small cap team to leave this year. Given that this is a small / mid cap orientated fund, we are suspending the three-star rating with immediate effect. Investors looking for an alternative multi-cap UK equity fund could consider AXA Framlington UK Select Opportunities or Liontrust Special Situations, both of which carry five star Bestinvest ratings.
The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested. Different funds carry varying levels of risk depending on the geographical region and industry sector in which they invest. You should make yourself aware of these specific risks prior to investing. Smaller companies shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk Current or past yield figures provided should not be considered a reliable indicator of future performance. This article is not a personal recommendation or advice to invest.
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