Plackett restructures Mlim UK Special Sits

BlackRock Mlim manager cuts holdings in focused best ideas portfolio by 10 and reduces large-cap exposure to exploit post-volatility market opportunities

BlackRock Mlim's Richard Plackett has restructured his UK Special Situations portfolio to take advantage of investment opportunities following the recent market volatility. Plackett, who has run the portfolio since June 2004, has slashed portfolio holdings from 65, at the end of December, to 55 today. The fund is run as a focused best ideas portfolio across the capitalisation range. In general, Plackett believes 2008 will be a year of consolidation and survival. According to Plackett, his fund underperformed its benchmark during the fourth quarter, falling 3.2% against the Morningst...