Fidelity International (“Fidelity”) has added two new hires to its Solutions and Multi Asset team, further strengthening the investment capability as part of a broader evolution of the business.
The new appointments come as Eugene Philalithis, Portfolio Manager and Head of Multi Asset Investment Management, announces his retirement in 2024. Eugene will step down as a named Portfolio Manager on 1 January 2024, and will remain at Fidelity until 31 March 2024, allowing significant time to ensure a smooth transition for clients. He will return to Fidelity later in 2024 in a role as Senior Advisor, mentoring team members and providing insight on markets.
Talib Sheikh will join Fidelity later this year, replacing Eugene as Lead Portfolio Manager across multi asset income strategies, including the flagship multi asset income funds: Fidelity Funds – Global Multi Asset Income (SICAV) and the Fidelity Multi Asset Income range (three OEIC funds). Working alongside existing Co-Portfolio Managers George Efstathopoulos and Becky Qin, Talib brings over twenty-five years of experience in the investment industry, most recently as Head of Multi Asset Strategies at Jupiter Asset Management. Prior to Jupiter, Talib was Managing Director and Portfolio Manager at JPMorgan Asset Management where he worked for nearly 20 years, contributing to the development of the global multi asset business and income capabilities. Talib Sheikh comments, “I’m excited to be joining a team with such broad and deep investment capability and look forward to continue to deliver income-oriented solutions for the global client base.”
Fidelity’s target date strategies (TDFs), including its flagship SICAV range, will be managed by Ayesha Akbar and Julie-Ann Ashcroft, who will work in partnership on this range of strategies predominantly managed for DC and pension clients.
As part of the broader evolution, a key focus for Fidelity’s Solutions & Multi Asset team will be developing a capital preservation capability, drawing on the team’s existing skillset and enhancing tools for downside protection. To support these plans, Fidelity has appointed Mario Baronci as Portfolio Manager, joining in the Autumn. Based in Italy, Mario brings an extensive expertise in multi asset portfolio management, with a focus on strategies designed to preserve capital and generating attractive risk adjusted returns for investors over time. He joins from Quaestio Capital Management where he was Head of Multi Asset for nearly 10 years. Prior to this, he was Head of Multi Manager and Fixed Income at Sella Gestioni.
Henk-Jan Rikkerink, Global Head of Solutions and Multi Asset, Fidelity International, comments: “After a long and successful career in the investment industry, I’d like to thank Eugene for his exceptional contribution to Fidelity since joining in 2007 and his active part of in its evolution since then.
“Over the last two years, Fidelity’s Solutions & Multi Asset business has been evolving its investment capabilities, building the foundations to transform into a more flexible and scalable business. We have been expanding our toolkit, including the breadth of instruments and asset classes as well as building blocks for implementation. The challenges facing investors over the coming years will require a more robust investment platform and broader range of expertise along with a team-based focus when it comes to our investment process and decision-making. I am therefore delighted to welcome Talib and Mario, and look forward to them working joining our existing team to continue the development of a multi asset capability that can deliver strong long-term outcomes for clients.”
