Two new portfolio managers appointed to our UK equity funds

We are pleased to announce the appointment of two new UK equity fund managers. Matt Siddle and Michael Clark will assume control of Fidelity Growth + Income and Fidelity Income Plus Funds respectively on 1 July 2008. This follows a string of recent successful appointments to UK equity funds.

Fidelity Growth + Income Fund

Matt Siddle has managed an internal UK equity fund on behalf of Fidelity since April 2007, which has beaten its benchmark FTSE All Share Index by more than 4% since its inception^*. This reflects Matt’s very strong stock-picking pedigree, which has been illustrated by very high success rates in his recommendations as an analyst.

*Source: Fidelity/Morningstar as at 23.05.08 on bid-bid basis with net income reinvested. Benchmark: FTSE All Share.

Fidelity Income Plus Fund

Michael Clark brings 20 years of stock-picking experience to this role, the past five at Fidelity. Through his career, as research analyst and portfolio manager, he has analysed stocks in a wide range of pan-European equity sectors, many being those sectors which typically include higher-yielding companies in terms of dividends. That experience will be invaluable for his management of Fidelity Income Plus. In managing an internal equity income portfolio, he has demonstrated an investment style that is well-suited to Fidelity Income Plus - focusing on reasonably priced investments with high return on equity and low earnings risk.

John Stavis - former fund manager

John will be taking a six-month sabbatical after 13 years in the industry, after which he will be returning to Fidelity’s investment team but not to these funds. John has also been running the equity portion of the Fidelity MoneyBuilder Balanced Fund, which will be transitioned to Matt Siddle on 1 July. The fixed income portion of the portfolio will continue to be managed by fixed income manager Ian Spreadbury.

UK equity team

View our other new UK equity fund managers.

UK equity team