Analysts Downgrade Fidelity Moneybuilder on Manager Change

Following the announcement that Fidelity's Ian Spreadbury will be retiring at the end of the year, Morningstar analysts have downgraded his funds

Morningstar Manager Analysts 13 November, 2018 | 12:17AM
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Ian Spreadbury fidelity retire video fund manager

Ian Spreadbury's long-standing and diverse experience in fixed-income markets, combined with his prudent risk management, historically underpinned our high conviction in Fidelity MoneyBuilder Income. Spreadbury has announced his intention to retire at the end of 2018, with lead management responsibility passing to his comanager Sajiv Vaid, who joined from Royal London Asset Management in 2015.

Vaid was brought on board with the clear intention to be Spreadbury's successor, and the two have worked together well over the past three years. Vaid seems fully indoctrinated in to the Fidelity fixed-income philosophy and process, and he is a worthy successor. However, the team was stronger with the both of them working together, and we believe that the loss of Spreadbury's macro input will be felt. Fidelity have also done little to mitigate key-man risk on this strategy.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Fidelity MoneyBuilder Income37.65 GBP-0.66Rating

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Morningstar Manager Analysts

Morningstar Manager Analysts  research and rate hundreds of OEICs, unit trusts and investment trusts available for sale in the UK.

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