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Stavis takes over Fidelity income plus fund from McCarron

Fidelity is handing the management of its income plus fund to John Stavis following current manager Tim McCarron&#39s decision to concentrate on his European mandates.

Stavis, who is manager of the growth & income fund, will take the reins of the income plus fund on January 1, having spent the last few weeks working closely with McCarron, attending company meetings and sharing market intelligence. Stavis is a similar manager to McCarron and will focus on attractively priced, cash-generative companies, particularly those with turn-round potential.

McCarron will concentrate on running European mandates, including the flagship European fund, one of Fidelity&#39s strongest performers. The income plus fund has not fared as well, having returned 16.85 per cent over one year, ranking it 24th out of 76 funds in its sector.

Senior portfolio strategist John Ross says: “John is a natural successor to Tim and we are confident that he has the knowledge and expertise to build on Tim&#39s successful, seven-year track record.”

Chelsea Financial Services head of research Juliet Schooling says: “European and UK funds are not really compatible. It makes sense for McCarron to concentrate on Europe, where he has done very well.”


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Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.


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