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Pratt quits Fidelity to join Newton

Fidelity UK aggressive fund manager Glenn Pratt is quitting the US giant to join Newton Fund Managers as a senior member of its UK equity team.

Pratt, who has been with Fidelity for eight years and run the aggressive fund – previously called the recovery fund – for four years, will join Newton in January but is believed to be stepping down from the £82m fund with immediate effect.

His successor is thought to be Sanjay Shah, who will take control immediately, leaving the growth & income fund he took over several weeks ago.

Pratt will not be allocated a fund until January but it is possible he will join a team missing Robert Shelton, the star manager of Newton&#39s £800m flagship UK income fund, who is fighting to return to work after a car accident in February.

Newton chief executive Helena Morrissey says: “Once Glenn is here we will make a decision about what fund he will run but we are absolutely delighted he is joining us.”

Fidelity executive director Paul Kafka says: “We are sorry to see Glenn go and wish him well.”

Bates Investment senior investment adviser Kerry Nelson says: “It is a great opportunity for Glenn to make a name for himself at Newton.”

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