BlackRock Greater Europe (BRGE) has announced that Stefan Gries has become the manager of its portfolio, effective immediately. Sam Vecht, Managing Director in BlackRock’s Global Emerging Markets Equities team, will be stepping aside from his role as co-portfolio manager, which apparently reflects the current focus and asset allocation within the portfolio.
About Stefan Gries
Stefan Gries is a managing director and head of the European equity team within the fundamental equity division of BlackRock’s portfolio management group. He has been co-manager of BRGE since June 2017. He is supported by the extensive resources and significant expertise of BlackRock’s European equity team.
Introducing tiered management fee structure
Following a review of management fees, BRGE’s board has reached an agreement with BlackRock to amend BRGE’s management fee arrangements. The new fee arrangements will take effect from 1 January 2023. The annual management fee, which is payable quarterly in arrears, will reduce from 0.85% of net asset value per annum to 0.85% per annum of net asset value on assets up to £350 million and 0.75% per annum of net asset value on assets thereafter.