Fidelity fund on hold as manager departs
Research house Standard & Poor's Fund Services (S&P) placed the Fidelity Global Equities Fund 'on hold' following the departure of the portfolio manager for the fund, Brenda Reed.
Reed will be replaced with London-based Amid Lodha, who has been with Fidelity for seven years, having held management responsibility for the Global Industrials and Global Real Asset Securities funds since 2008.
S&P said it hopes to resolve the fund's on hold rating once it meets with the London-based Fidelity investment team responsible for the management of this product in November.
Fidelity also indicated it will fill the two portfolio management roles previously performed by Lodha, who will assume his new role at the end of October.
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