Fund Manager’s Diary

Richard Skelt is head of the portfolio strategies group at Fidelity International. His diary runs from June 27 to July 3

Monday I attend the Portfolio Strategies Group weekly market review first thing, followed by a tactical asset allocation update meeting where we decide to leave things as they are for the time being – namely our overweight positions in Europe and Japan.

After an industry review over lunch, I return to the office to find my diary pleasantly free of meetings, giving me the opportunity to catch up on some research.

I leave the office on time, as I have to get to Battersea Park for my tennis lesson. They are going really well, but I don’t think I’m ready for Wimbledon just yet.

Tuesday Today I listen to a number of quarterly fund reviews by teleconference, including Anthony Bolton and Colin Stone giving updates on how their funds have fared in the last quarter and how they are now positioned.

Out of the office on time again tonight, but this time so that I can make it to the cinema to meet my wife for the 6.30pm showing of Mr & Mrs Smith.

Wednesday In the morning I have a third-party fund of funds meeting with the multi-manager team, including Josef Odili, our newly recruited analyst. We discuss how the portfolios are structured at present, as well as potential new funds to be added.

This is followed by a marketing meeting – we have recently launched two new Target funds in continental Europe and we talk about how we can highlight the asset allocation process to clients.

I am handing over the day-to-day management of some of my funds to Chris Ralph and Rita Grewal in January next year, which we are announcing next week. We finalise the press release and prepare for interviews.

Thursday I meet with our direct business team this morning to discuss the content of some fund analysis and portfolio construction workshops we want to host for some of our direct clients. I then meet with a third-party fund that we are considering adding to some of our portfolios.

I set off for a conference at 4pm, which is being held at Merrill Lynch Financial Centre. The theme of the conference is “Controversies that matter for markets – is the world a riskier place?”.

Friday After a reasonably quiet morning I go to lunch with the multi-manager team. We review the third-party funds, discuss developments and debate findings from the meetings we have had during the week.

I pick up my son, Sam, on the way home.

Saturday In the morning my wife drags me to the supermarket for the weekly shop and in the afternoon I take my daughter, Juliet, to a friend’s birthday party.

I watch Live 8 for the rest of the day, but tiredness overcomes me (I like to call it shopping-trolley fatigue) and I record the rest to watch tomorrow.

Sunday Sunday morning begins bright and early with Pink Floyd’s set on Live 8 from the night before. The whole family then heads off for a game of tennis – Juliet vs Sam and Mr Skelt vs Mrs Skelt. I then watch the French Grand Prix and the men’s tennis final.