Richard Plackett has handed the management of his BlackRock UK Smaller Companies fund to Ralph Cox.
Cox has been managing the £328m fund alongside Plackett since August 2007. Cox has also worked with him on the BlackRock UK Emerging Companies hedge fund since its launch in 2004.
Despite handing the mandate of the BFM UK Smaller Companies fund to Cox, Plackett remains head of the BlackRock UK Smaller Companies investment team. He also remains the sole manager of the BFM UK Special Situations fund and co-manager of the BlackRock Emerging Companies hedge fund.
Cox has been appointed sole manager of the fund because he recently spent more time on the fund analysing companies on the smaller end of the investment universe. (article continues below)
According to the latest fund fact sheet, the BFM UK Smaller Companies fund has around 100 stocks invested in small-caps and the lower end of mid-caps. It was launched in 1987 and ranks second quartile over one and three years.