BlackRock announced the addition of Roland Arnold as co-manager of the BlackRock UK Special Situations Fund with effect from 1 August 2012, alongside existing manager, Richard Plackett.
Roland joined BlackRock 12 years ago and has considerable experience of managing UK equity portfolios. The Fund is one of the BlackRock UK Equity Team’s flagship offerings, with assets under management of over £1.4bn. The Fund has been run by Richard Plackett since 31 May 2004 and during that time the team has produced a return of 138.6% compared to a return of 71.3% from the average fund in the UK All Companies sector.
Roland has been working closely with Richard, head of the UK Small and Mid Cap Equity team, for the past 10 years and assisting him on the Fund for the past two years. Roland’s appointment is a formal recognition of the current process and a reflection of the strong conviction we have in him as an investor. Richard will continue to carry out a lead role on the management of the Fund retaining ultimate discretion over the portfolio
We believe the additional management resource Roland brings as co-manager, both in terms of stock selection and helping to serve our clients’ requirements, will continue to benefit the strong long term track record of the Fund for our unit holders.
When Richard Plackett assumed management of the Fund in 2004, the assets under management (AUM) were £100 million. They have grown significantly under his tenure and now stand at £1.4bn. This extra resource will enable Richard and Roland to continue servicing the ever growing client base and continue to focus on stock selection.
The UK Small and Mid Cap Equity team, led by Richard Plackett, comprises five portfolio managers all of whom conduct research and contribute investment ideas.
Richard Plackett, Head of the UK Small and Mid Cap Equity team at BlackRock said: “Having worked closely with Roland for 10 years he was the natural choice to join me in co-managing the BlackRock UK Special Situations Fund. The Fund has grown significantly over the last 8 years and the additional management resource Roland will provide will help to continue serving our growing client base. We enjoy debating our investment decisions and I am pleased to provide our clients with access to Roland’s long track record in managing small and mid cap equities. “
