Skelt to hand over three Fidelity funds of funds

Richard Skelt, leader of the portfolio strategies group at Fidelity, will pass the day-to-day management of several of Fidelity’s multi-manager portfolios to members of his team on January 1 next year, according to the group.

Three of Fidelity’s onshore retail funds will be affected by the change, including the MultiManager Growth, MultiManager Income and Fidelity Portfolio funds.

Skelt’s role has grown lately, according to the group, as Fidelity is preparing to expand its multi-manager business both in Britain and overseas.

Management of the 74m MultiManager Growth Portfolio and the 62m MultiManager Income portfolio will be handed over to Chris Ralph. Ralph is currently responsible for UK equity mutual fund analysis on the multi-manager team.

Skelt will continue to manage the WealthBuilder and MoneyBuilder fund of funds ranges as well as the 372m Fidelity International fund. He will also continue to manage financial models for the multi-manager range as a whole.

Rita Grewal, responsible for the group’s institutional British and European equity funds of funds, will take over management of the 207m fettered Fidelity Portfolio fund. She will also run several unit-linked portfolios. In addition, the portfolio strategies group recently recruited two new fund research analysts, Josef Odili and Jason Collins.

The fund management changes, as well as the new appointments, are designed to prepare for the expansion and ensure the scalability of the range, according to Fidelity.

The latest fund of funds products for the group include a range of three multi-manager funds recently launched in Japan.