Asako Kibe drops two mandates
By MARCEL PORCHERON 22/03/2006
Fidelity has announced that from the 1st of April Asako Kibe will no longer manage either the Fidelity Japan Special Situations OEIC, rated two stars by Bestinvest Research, or the Fidelity Funds Japan Smaller Companies (offshore). She will, however, continue to run the Fidelity Japanese Values Investment Trust.
Fidelity claim that this decision was made by Asako Kibe. She wants to spend more time mentoring the younger managers after 25 years at the firm.
Jun Tano will take over management of the two funds. He has 18 years experience, with 16 of those spent in portfolio management. He has been at Fidelity since 2002 where he has run a sector fund, the Fidelity Select Developing Communications, a domestic Japanese IT.
Recommendation
As a result of the announcement that Asako Kibe will drop the Fidelity Japan Special Situations mandate, our two star rating has been removed. Investors in the fund should continue to hold in the short term while we examine Tano-san’s track record.
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Source: Financial Express