Barry Woolf has given up running the Mercury British Blue Chip fund in anticipation of his retiremen...
Barry Woolf has given up running the Mercury British Blue Chip fund in anticipation of his retirement from fund management later this year, writes Kira Nickerson.
Woolf has been with Mercury for 31 years and has managed the Blue Chip fund since 1989.
Mark Darell-Brown has taken over the management of the fund. Previously Darell-Brown, who has been with Mercury for six years, was a senior member of Mercury's European investment team and was involved in running some of the group's institutional UK portfolios.
The £270m British Blue Chip fund, rated frAA by Standard & Poors has returned -3.5% over the three months to 4 April on a bid to bid basis. This compares to the UK All Companies sector average return of -1.6 and ranks the fund 186 out of 280.
Over one year, on a bid to offer basis, the fund has returned -5.9% and is ranked 249 out of 260 funds in the sector.
Woolf has previously given up operating Mercury's Keystone investment trust. Since mid-February the fund has been lead by Alistair Lennard, also a member of the group's European investment team.
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