BlackRock drops Lyttleton from UK fund

BlackRock has removed Mark Lyttleton from its UK fund, handing the £449m portfolio to co-manager Nick Little.

The change comes after a period of underperformance for the fund, which is ranked 191st in the IMA UK All Companies sector over one year, and 264th over three years. A number of Lyttleton's funds have recently started appearing in sell lists. He has faced criticism from advisers and wealth managers for the performance of mandates including the UK Dynamic fund, as well as the UK fund. The Dynamic fund - which Lyttleton continues to run - has fallen 5.8% over the last year, and delivered 47.7% over the last three years, below the IMA UK All Companies sector average fall of 1.7% over ...