BlackRock’s James MacMillan has stepped down from the £113m BGF European value fund and the group is promoting analyst Brian Hall to run the fund.
Hall joined BlackRock in 2007 and is responsible for research on the industrials sector. He will be supervised in the new role by the company’s European equity team head and 25-year fund management veteran Nigel Bolton.
Before joining BlackRock, Hall worked at Lehman Brothers as director of equity research.
MacMillan has left the fund to move to a new, as yet unannounced, role within BlackRock.
He gave up his role as head of European equities in March 2008 when BlackRock recruited Bolton from Swip to lead the team and develop a new research process for its funds.
BGF European value has an AA rating from S&P, an OBSR A rating and a Morningstar superior rating.
Whitechurch Securities senior analyst Ben Seager Scott says: “Although any change of manager should give rise to a fund review, my initial feeling is that these internal moves are a natural part of the fund’s evolution.”