BlackRock's Richard Plackett has handed the management of his UK Smaller Companies fund to co-manager Ralph Cox.
The pair have managed the £325m fund together since 2007 and continue to work together on the UK Emerging Companies hedge fund.
BlackRock says the move is in recognition of Cox's contribution to the running of the portfolio, and reflects the fact he focuses more than Plackett on analysing small-cap stocks. It will also allow Plackett to concentrate on his £974m UK Special Situations fund.
UK Smaller Companies returned 0.8% over the three years to 4 October, compared to a sector average fall of 5.7%, according to Financial Express.
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