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magazineBlackRock star manager Prentis to retire this summer
Mike Prentis will step down as manager of BlackRock Smaller Companies Trust (BRSC) at the company’s June AGM, calling time on a distinguished 32-year fund management career.
Prentis has managed the fund since August 2002, originally at 3i Investments, then for 14 years at BlackRock. Under his stewardship, the portfolio has delivered sparkling NAV total returns of 957% or 15.3% per year, substantially outperforming the 530% (11.8% per year) from the Numis Smaller Companies ex-Investment Companies index.
Co-manager Roland Arnold becomes the lead manager following the AGM and will continue to use Prentis’ tried-and-tested quality growth bias approach.
Prentis’ departure is no major surprise given his lengthy tenure and the early 2018 management handover of BlackRock Throgmorton Trust (THRG) to Dan Whitestone.
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