Luke Chappell has stepped down as co-manager of the BlackRock UK Special Situations Fund. He'll continue to focus on his role as co-Head of BlackRock's UK Equity team and other fund management responsibilities. Roland Arnold, previously the fund's other co-manager, has taken on sole responsibility for the fund.
Roland Arnold's been at BlackRock since 2000 and co-managed the BlackRock UK Special Situations Fund since August 2012. Over that time, it's grown 89.1%* while the broader UK stock market's risen 70.3%. Past performance is not a guide to the future though.
|Annual percentage growth|
| May 14 -
| May 15 -
| May 16 -
| May 17 -
| May 18 -
|BlackRock UK Special Situations||9.3%||-7.0%||28.1%||13.0%||-2.5%|
Past performance is not a guide to the future. Source: *Lipper IM to 31/05/2019
The fund's investment process remains the same and the manager still has the support of BlackRock's well-resourced UK Equity team. As a result, we don’t expect any significant changes to the fund.
Roland Arnold will continue to invest in companies with strong positions in their markets, high barriers to entry from competition and high-quality management teams. He'll also continue to invest in companies of all sizes, but with a focus on small and medium-sized companies. This, combined with the ability to invest in derivatives, adds risk.
The fund isn't currently on the Wealth 50 list of our favourite funds. We prefer other UK fund managers with longer track records of delivering strong returns for investors.