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Fidelity global focus manager quits

Fidelity global focus fund manager Brenda Reed is to leave the firm after 18 years.

Reed, who has managed the £334m global focus fund since January 2003, is leaving to join New York based hedge fund firm George Weiss Associates. Her responsibilities have been passed on to Amit Lodha.

Reed joined Fidelity in 1992 as a research analyst in Boston. She has held roles as director of research for European equities in London and director of research for Japanese equities in Tokyo and managed several of Fidelity’s funds internationally. Reed has managed money in US and Japan and has acted as director of research and a research analyst in Japan and the US respectively. She was running approximately

The global focus fund is currently top quartile in the IMA global growth sector over three years having returned 12.9 per cent, compared to an average return of 0.6 per cent.

In addition to managing the UK retail version of the global focus fund, Lodha will also manage the Luxembourg Sicav as well as retaining his responsibilities on the FF global industrials fund and the FF global real asset securities fund.

Lodha joined Fidelity in 2003, he took over the management of the FF global industrials fund in April 2008.

Fidelity president for Europe Robert Higginbotham says: “Brenda Reed has built a tremendous track record on the fund, turning in top quartile performance.  Amit’s record on both the FF global industrials fund and FF global real asset securities fund is also very strong.  His go anywhere, bottom-up approach to portfolio construction, overlaid with the long term investment themes that drive his portfolio, make him the ideal manager to succeed Brenda on the global focus fund.”

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