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Fidelity’s Richard Skelt retires after 23 years

Fidelity’s Richard Skelt retires after 23 years

Richard Skelt has retired from Fidelity after 23 years at the firm, Wealth Manager can reveal.

Skelt (pictured) joined Fidelity in 1991 as a research analyst, rising to head of quantitative research at the group in the mid-1990s. He also founded the Investment Solutions Group at Fidelity, the multi-asset team that now manages almost £25 billion.

In May last year Skelt stepped back from the funds he ran to focus on investment strategy, with James Bateman becoming lead manager on the £865 million Fidelity Wealthbuilder and £529 million Fidelity Moneybuilder Global funds.

Skelt remained as the funds’ co-manager and will be replaced in that position by Nick Peters, who joined Fidelity from Barclays Wealth in 2012.

Peters already helms Fidelity’s £1.2 billion International offshore fund, with Skelt as co-manager. In that role Skelt will be succeeded by Ayesha Akbar, who also runs the onshore £220 million Fidelity International fund alongside Peters.

A spokesperson for Fidelity told Wealth Manager: ‘We do not expect Richard’s departure to have a meaningful impact the management of our clients’ portfolios, given the team’s co-PM structure.

'There will be no change in style or approach, and no restructuring or disruption to the portfolios. The lead and co-PMs have been chosen based upon their asset-class expertise and experience, to represent the relevant mix of asset-class skill sets for each portfolio. They are all senior members of the team.’

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