Throgmorton ends 50-year AXA Fram deal for BlackRock

The deal, subject to shareholder approval, will see BlackRock managers Mike Prentis, manager of the BlackRock Smaller Companies Trust, and Richard Plackett, head of BlackRock's UK small and mid-cap team, co-manage the trust. Throgmorton also rejected a merger approach from Gartmore Growth Opportunities. The Board of Throgmorton says the move follows an "extensive review of its options going forward", which it carried out at the beginning of the year. Some commentators have also pointed to the performance of Framlington, which dipped last year, as a contributing factor. Management of t...