The pair have managed the fund together since 2009, but in the past three years have been plagued by poor performance.
Over three years the fund has returned 14.1% compared to the sector’s 27.6%, while over one year it has returned 10.7% compared to a sector average 17.9%.
The graph shows the fund’s performance over the past year.
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Upon his return to work, McLeod-Clarke will focus solely on institutional mandates, BlackRock said. He has stepped down from managing the Income Fund with immediate effect.
According to FE, Avigdori has underperformed his peer group and his stockpicking is deemed to have been poor.
The news comes a few weeks after the announcement that Mark Lyttleton was leaving BlackRock after returning from a period of extended leave.
The former manager of the underperforming UK Absolute Alpha Fund finally left BlackRock in March after taking three months off last summer due to personal issues.
