Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Embattled PM Leaves BlackRock Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, June 22, 2012

Embattled PM Leaves BlackRock

News summary by MFWire's editors

BlackRock announced that Daniel Rice, who stepped down earlier this week as co-manager of the $4.4 billion BlackRock Energy & Resources fund, will leave the company at the end of the year.

The Wall Street Journal broke the news yesterday, and Morningstar also took note.

Rice stepped down after a WSJ report revealed possible conflicts of interest between his family's investments and the portfolio he managed, which BlackRock had not disclosed. Alpha Natural Resources, one of the largest holdings in Rice's biggest fund, is part of a joint venture with his family firm, Rice Drilling. The fund's unrealized loss on Alpha Natural Resources is over $100 million, according to the WSJ.

Denis J. Walsh III and Dan Neumann, who co-PMed BlackRock energy funds with Rice, have taken over Rice's portfolios. Rice plans to hand off the funds he manages for private institutional accounts to his co-managers by December. 

Edited by: Chris Cumming


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use