Fidelity American - Weiner drops the UK retail fund
Jason Weiner is dropping the Fidelity American retail OEIC to concentrate on some US domestic mandates he has recently taken on. He had run the fund since April 2003, achieving growth of 39.06% during his tenure which places him in the 61st percentile in the sector - the S&P 500 index grew by 47.62% in the same time period. He is replaced by Aris Vatis, who joined Fidelity from Pictet last summer and already runs an institutional US equity mandate for them. Vatis does 400 company meeting a year and is expected to maintain a fairly neutral style on the fund, investing mostly in large and mid cap. Though London based, he travels to the US regularly.
Recommendation
Following the change of manager we have suspended our two star rating on this fund.
Market latest
|
Index
|
Points
|
+/-
|
| FTSE 100 |
5906.44 |
0.27%
|
| FTSE 250 |
11185.00 |
0.08%
|
| FTSE All Share |
3048.38 |
0.22%
|
| FTSE Euro 100 |
2252.59 |
0.55%
|
| S&P 500 |
1347.05 |
0.20%
|
| Nasdaq |
2904.08 |
0.07%
|
| Hang Seng |
20699.19 |
0.05%
|
| Nikkei 225 |
9015.59 |
1.10%
|
Values delayed by at least 15 minutes.
Source: Financial Express