A spokesperson for the company said Morton had come to a mutual agreement with BlackRock over his departure, with immediate effect.
The portfolio management of the BlackRock UK Property Fund will not be impacted, BlackRock said, since Marcus Sperber head of the firm’s international real estate business remains the portfolio manager.
Sperber is responsible for the management and performance of the £2bn fund, while Morton was involved in going out and meeting real estate companies and advising on potential investment opportunities for the fund.
There is also a team of analysts on the fund.
Morton is reported as saying: "I have thoroughly enjoyed my time at BlackRock and in particular working with my team in real estate. We have achieved a great deal over the years and now is an appropriate time for me to move on and meet new challenges elsewhere."
The fund is an unclassified Oeic based in Jersey, which aims to deliver consistently positive performance from a diversified portfolio of commercial property in the UK.