Fidelity has poached two global managers to replace outgoing veteran manager Jeremy Podger and take over the £3.2bn Fidelity Global Special Situations fund.
Christine Baalham joins the firm from Ninety One, where she was co-manager of the $893m Ninety One Global Equity fund and a founding member of the firm’s 4Factor equity team. Before that she was at Schroders.
Tom Record has moved from Liontrust, where he was a member of its Global Fundamental team. He joined Liontrust following its acquisition of Majedie Asset Management, where he had managed funds for eight years. He was also previously at Baillie Gifford.
FE fundinfo Alpha Manager Podger has run the Fidelity Global Special Situations fund since 2012, during which time it has made a 294.4% return, a top-quartile effort in the IA Global sector during his tenure.
Total return of fund vs sector and benchmark under Podger
Source: FE Analytics
Ilga Haubelt, head of equities at Fidelity International, comments: “We have progressively invested in our global equity team to ensure a vibrant mix of talent, experience, style and specialism, and we are, therefore, delighted to confirm that this backdrop has enabled us to attract two very experienced portfolio managers to join the team and work together on our flagship global funds.
“These individuals present the right cultural fit and dynamism to lead this strategy, to utilise the best of what Fidelity research has to offer, and to complement the talent in our existing global equity team.”