(Yicai) July 31 -- The Chinese fund management subsidiary of BlackRock, the US' biggest asset manager, has made several key personnel adjustments to its investment team to enhance its strength and capability to serve clients.

Lu Wenjie has stepped in as China Investment Strategist of BlackRock and will leave the vice general managed and chief investment officer posts, the company announced today.

BlackRock Fund has also appointed Liu Xin as its chief fixed-income investment officer and Shen Yufei as its chief equity asset investment officer, it noted. The two will lead the investment businesses along with Wang Xiaojing, who is in charge of multi-assets and quantitative investment.

Liu, who has almost 20 years of investment experience, previously worked as director of fixed-income investment at BlackRock Fund and headed the fixed-income division at BlackRock Singapore in the past. Shen has 15 years of research and stock market investment experience and had a long stay at Galaxy Asset Management.

With the slowdown of China's economic growth in recent years, the volatility of the Chinese capital market has increased and most major stock indexes have experienced significant corrections, impacting the performance of fund companies and causing frequent personnel changes.

BlackRock Fund has previously made staff changes involving higher-level management. In February, it named Fan Hua, former GM of wealth management joint venture BlackRock-China Construction Bank, as chairman, while its first GM Zhang Chi resigned and was succeeded by Chen Jian.

Due to the intensified capital market fluctuation, many foreign asset managers have begun to let go of business staff in China.

"BlackRock's commitment to rooting itself in China is long-term and firm, and we will continue to seek opportunities in the Chinese market," Fan told Yicai. "For international investors, the Chinese capital market has long-term appeal.

"BlackRock also sees that Chinese customers have more global asset allocation needs," Fan noted. "BlackRock China hopes to become a bridge connecting the Chinese and international capital markets."

Editors: Tang Shihua, Martin Kadiev