Departure of Fidelity EM lead forces review
Duffy was an investor we rated highly, and his departure is disappointing.
ANALYST NOTE| Fidelity International has announced the resignation of Alex Duffy, lead portfolio manager of the Fidelity Global Emerging Markets strategy.
Duffy was an investor we rated highly, and his departure is disappointing. Given his pivotal
role in the strategy since late-2013 inception, we have placed the Fidelity Global Emerging Markets and Fidelity Global Emerging Markets ETF (ASX: FEMX) strategies Under Review.
He will retain responsibility for the strategy until 28 May 2021. Portfolio management responsibility will then pass to Fidelity India fund manager Amit Goel, based in Singapore.
Goel will work in partnership with a newly appointed co-portfolio manager, Punam Sharma in London, while Sherry Qin in Shanghai remains the non-discretionary adviser for the strategy.
Duffy ran Fidelity's emerging markets strategy since inception in 2013. He joined Fidelity International as an analyst in 2004 and began managing emerging-markets strategies in 2007.
A formal review of these strategies will be undertaken in the coming weeks.
Fund snapshot | Fidelity Global Emerging Markets
Morningstar analyst rating: Under Review (21 April 2021)
(Click to enlarge) Source: Morningstar Global Fund Report
