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IFAs tip Stone as Fidelity special sits contender

Some IFAs believe Colin Stone is a strong contender to take on half of Fidelity’s special sits fund following its planned split next January.

Stone, who runs Fidelity’s 750m European opportunities fund, joins the list of possible candidates, including colleagues Tim McCarron, Sanjeev Shah and John Stavis, to take on half of the 6.25bn fund from Anthony Bolton.

Last month, Fidelity UK managing director Richard Wastcoat wrote to shareholders, saying that Bolton’s successor for half of the fund would be revealed in voter packs sent to shareholders in mid-June.

Bolton is understood to be playing a significant role in the decision to pick the new manager.

Hargreaves Lansdown investment manager Ben Yearsley says: “Stone is a definite poss-ibility. He manages less money than McCarron and it may depend on how the fund is split but he is a decent manager with a decent track record.”

Alan Steel Asset Management director Graeme Currie says: “Stone is an excellent presenter and fund manager. He sticks to his convictions and runs the money the way he likes to. I think he would do well.”

Chelsea Financial Services managing director Darius McDermott says: “Stone is a reasonably new face on the scene and I would not put it past Fidelity to throw another possibility into the frame.”

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