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Alain Bourrier leaves BlackRock, causing EM reshuffle
Markets
by Philip Haddon on May 07, 2009 at 10:49
BlackRock has reshuffled the fund manager line up on its emerging markets funds as Alain Bourrier has left the firm, while Will Landers is to focus on his Latin American fund.
Bourrier, Landers and Plamen Monovski (pictured above) worked together on the firm's global emerging markets funds as a trio since May 2005, while Monovski and Bourrier ran the BGF Emerging Europe fund as a duo since 2001. But Bourrier left the firm after eleven years last month, Citywire can reveal, and is believed to have taken a career break.
Landers, meanwhile, is staying at the firm and will continue to manage the BGF Latin American fund. He will also continue to contribute ideas for the Latin American segment of the global fund.
The €278 million Luxembourg-domiciled BGF Emerging Markets fund will now be managed by Monovski and three co-managers: Dhiren Shah, Daniel Tubbs and Sam Vecht. The UK version of the fund, BlackRock Emerging Markets Inc (also known as BFM Emerging Markets), will take on the same manager changes. Shah has been on BlackRock's emerging markets team since 2001, while Tubbs joined in 2007 and has eight years' experience.
Vecht has also replaced Bourrier on the €929 million BGF Emerging Europe Fund . Vecht, who has been with BlackRock since 1999 and also co-manages the the firm's Eurasian Frontier hedge fund, will now partner Monovski on the emerging Europe vehicle.
Over three years in the global emerging markets sector the trio of Monovski, Landers and Bourrier are ranked 55/118. In the period they lost 28.95% compared to a 28.1% loss by the sector's average manager.
In the emerging markets Europe sector, meanwhile, Bourrier and Monovski are ranked 15/47 over three years.
Monovski and Vecht were also recently handed the mandate for the Eastern European Trust, after the Trust's board decided to replace Pictet as managers.
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