Bestinvest has removed its one star sell rating from £133.7m BlackRock Global Equity fund as the firm announces James Bristow is to replace fund manager Richard Turnhill with effect from 1 January 2013.
Turnhill has only been in sole charge of the fund since July this year, though he had previously been co-manager.
Bristow joined BlackRock’s global equity team in 2006 and already has responsibility for managing over £3.1bn of assets, as well as covering the healthcare sector. He previously ran global and European equity portfolios at JPMorgan.
The BlackRock equity fund has been through various managerial changes this year.
In July, Andrew Williamson-Jones manger of the BlackRock Global Equity fund left after nine years, after which Turnhill took over.
Bestinvest then downgraded the fund to a sell rating for being a “consistent underperformer”.
The ratings agency has promoted the fund after the changes in management.
Bestinvest says: “We recently applied a one star (sell) rating to this fund. However, we view this change as a positive step and have removed the fund from our sell list.”