Jeremy Church, co-manager of the £800.5m Fidelity Global Inflation Linked Bond fund, has left the asset manager.
Lead manager Andrew Weir will take sole responsibility for the fund following Church’s departure.
Morningstar has placed the fund’s rating under review following Church’s departure, removing its previous bronze fund rating.
“Lead manager, Andrew Weir, who has managed the fund since launch in May 2008, will take over as sole manager of the fund. We will be meeting with Weir in due course to discuss his future plans for the fund,” says Ashis Dash, manager research analyst at Morningstar.
The fund has underperformed the Global Bonds sector for a long time, returning a 4.56 per cent loss over three years, compared to a 2.86 per cent return for the sector. Over five years the fund delivered 3.10 per cent compared to 10.82 per cent for the sector.
Church has been with Fidelity for 12 years, becoming co-manager on the fund in 2013.