Graham, who has been with the asset manager for 16 years, will continue to act as an adviser on the funds until the end of April. He is pursuing other opportunities in the industry.
Brides will be assisted at the helm by Andy Warwick. He currently co-manages the £105m Balanced Income fund and a number of other multi-asset mandates. He has been with BlackRock for 10 years, and before that spent four years at Merrill Lynch Investment Managers.
The Balanced Growth and Active Managed Funds have £234m and £11m under management respectively.
A spokesperson for BlackRock said: “Philip’s appointment follows the decision of Colin Graham to step down from his position as senior portfolio manager within the multi-asset portfolio strategies team after 16 years, to pursue other career opportunities. Colin will act as an adviser to Philip and the team until the end of April 2013 to ensure an orderly transition of his responsibilities.”