Tuesday, 22 July 2014
Last updated 1 hour ago
Mar 28 2013 | 9:16am ET
A BlackRock hedge fund manager will leave the firm after a run of poor performance and significant redemptions.
Mark Lyttleton has resigned from the firm, turning his U.K. Absolute Alpha Fund over to Nigel Ridge and Nick Osborne as of today. Ridge is the manager of BlackRock's U.K. Equity Hedge Fund. Nick Little will take the helm at the UK Dynamic Fund, which will be merged into Little's existing UK Fund. Little took over the UK Fund from Lyttleton last year.
Lyttleton's exit follows his return in September from a three-month break. But the poor performance that plagued him prior to the sabbatical continued; UK Absolute Alpha has shrunk by more than half over the last year, and UK Dynamic by one-third.
"We wish Mark well for the future and thank him for all his efforts over the last two decades," Tony Stenning, head of U.K. retail at BlackRock, said.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…