Citywire A-rated Vincent Devlin has been appointed co-manager on the BlackRock Greater European Investment Trust (GEIT).
Devlin, who joined BlackRock from Scottish Widows Investment Partnership earlier this year, will be responsible for the developed Europe portion of the BlackRock Continental European Inc. Sam Vecht will continue be in charge of the emerging Europe part.
Devlin succeeds James Macmillan, who has managed the trust since its launch in September 2004 and is stepping down so he can focus on his European Value and International Value funds.
The GEIT, which invests across all market capitalisations, has returned 76% since its launch to the end of June versus the 67.7% rise in the FTSE All World Europe ex UK index.
Devlin also runs the open-ended BlackRock Continental European Inc, which he was appointed lead manager on in March.
According to Lipper, he has significantly outperformed since he took on the fund, returning 3.7% in the last three months to the end of June versus a peer group average of -3.57%.
Commenting on Devlin's appointment, BlackRock's UK closed-ended business head, Jonathan Ruck Keene said:'The board has been impressed by the mark Vincent has made on BlackRock’s Continental European unit trust, demonstrating his ability to make money for investors in difficult market conditions.
His outstanding stock-picking skills and long experience of European equities make him the perfect person to build on the success which the Trust has already achieved.'