Investment evolution at Fidelity: new faces, new strategies
14 OCT, 2023
Fidelity International has made strategic additions to its Solutions and Multi-Asset team, reinforcing its investment capabilities in line with the overall evolution of the business. These appointments come as Eugene Philalithis, the manager and head of Multi-Asset Investment, has announced his retirement from front-line fund management in 2024.
Eugene Philalithis will step down from his role as fund manager on January 1, 2024, and will continue to work at Fidelity until March 31, 2024, providing ample time for a smooth transition for clients. However, he will return to Fidelity later in 2024 in a Senior Advisor role, where he will mentor team members and share his market insights.
Talib Sheikh will join Fidelity later this year and will take over from Eugene as the lead manager for income-focused multi-asset strategies, including the company's flagship funds: the Fidelity Funds - Global Multi Asset Income (SICAV) and the Fidelity Multi Asset Income range (three OEIC funds).
Talib, who will work closely with current co-managers George Efstathopoulos and Becky Qin, brings over 25 years of experience in the investment industry, most recently as Head of Multi-Asset Strategies at Jupiter Asset Management. Prior to Jupiter, Talib served as a Managing Director and fund manager at JP Morgan Asset Management, where he worked for nearly 20 years and contributed to the development of international multi-asset investment business and the company's income-oriented investment resources.
"I am thrilled to join a team with such diverse and deep investment resources, and I aspire to continue providing income-focused solutions to the company's client base worldwide."
Talib Sheikh.
The management of Fidelity's target date strategies, including its flagship SICAV range, will be led by Ayesha Akbar and Julie-Ann Ashcroft, who will collaborate on this product range, primarily aimed at defined contribution plans and pension funds.
As part of its overall evolution, a top priority for Fidelity's Solutions and Multi-Asset team will be to develop capital preservation investment capabilities, leveraging the team's current expertise and strengthening downside protection tools.
To support these plans, Fidelity has appointed Mario Baronci as a fund manager, who will join in the autumn. Based in Italy, Mario brings extensive experience as a multi-asset fund manager and has focused on strategies designed to preserve capital and generate attractive risk-adjusted returns for investors over time. He joins from Quaestio Capital Management, where he served as Head of Multi-Asset Investment for nearly 10 years. Previously, he held roles as Multimanager and Fixed Income Investment Manager at Sella Gestioni.
"After a long and successful career in the investment industry, I would like to thank Eugene for his exceptional contributions to Fidelity since joining in 2007 and for the active role he has played in its evolution since then. Over the past two years, Fidelity's Solutions and Multi-Asset business has evolved its investment capabilities and laid the foundation to become a more flexible and scalable business. We have expanded the tools at our disposal, such as a variety of instruments and asset classes, as well as the components we apply in execution. The challenges investors will face in the coming years will require a stronger investment platform and a broader range of capabilities, along with a team-focused approach to the investment process and decision-making. Therefore, it is my pleasure to welcome Talib and Mario, and I look forward to them joining the current team to continue developing multi-asset investment capabilities that deliver excellent long-term results for clients."
Henk-Jan Rikkerink, Global Head of Solutions and Multi-Asset at Fidelity International.
