Carmignac Gestion Group, the European asset manager and private bank, has appointed Michael Hulme as commodity equities fund manager to it London office, effective 14 February.

Carmignac Gestion Group, the European asset manager and private bank, has appointed Michael Hulme as commodity equities fund manager to its London office, effective 14 February.

Hulme will assume management of the €670 million ($906.9 million) Carmignac Commodities fund and takes over from David Field, who has chosen to take a sabbatical after 10 years running the commodity team, Carmignac Gestion said in a statement.

Hulme has 17 years’ experience including 14 years in resource focused equities. Before joining, he managed the Lombard Odier Global Energy fund and worked at MFS, where he managed the energy component of the MFS European Equity fund, and MFS Research International fund. Prior to this, he was a fund manager at Société Générale Asset Management.

Earlier this month, Carmignac Gestion Group, appointed a new European equities team, headed by Muhammed Yesilhark. The four-man team joins from SAC Global Investors and will be based in Carmignac Gestion Luxembourg’s London branch.

As at 30 September 2013, Carmignac Gestion had close to €55 billion in assets under management, offering 17 global, specialised or diversified funds across the group.