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On 27 September 2023, Fidelity announced that Jeremy Podger, lead portfolio manager of the Fidelity Global Special Situations fund, has decided to step back from full-time active portfolio management, effective 31 March 2024.
Fidelity has also indicated that two experienced portfolio managers have been recruited to the Global Equity team to be co-managers on this fund. There is a keen focus upon ensuring that investors in the fund continue to benefit from the “all weather” outcomes for which Mr Podger’s investment approach is known, and this was a key consideration in the recruitment process.
The fund remains on our Recommended list as Mr Podger will continue to be the lead manager until March next year. He plans to stay on in the role of Senior Advisor, supporting the transition as needed, as well as providing investment knowledge and guidance to his equity colleagues.
We look forward to hearing more details from Fidelity regarding the additions to the team early in 2024.
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