People Moves
Fidelity Loses Fourth Multi-Manager

Josef Odili, Fidelity International's lead Asian multi-manager, is to leave at the end of this month to join Fortis Investments. His departure leaves just chief investment officer Richard Skelt and US specialist Nieves Benito as named multi-managers at Fidelity. Mr Odili was the lead fund analyst on Asian High Alpha and Japan High Alpha funds, both part of Fidelity’s Luxembourg multimanager Sicav range, with around €10 million ($14 million) in assets each. His move, after two years at Fidelity, follows the departure in July of the group’s UK equity, fixed income and European equity managers Chris Ralph, Simon Mungall and Jason Collins to set up their own boutique at Resolution. Simon Ellis, managing director of Fidelity’s multimanager division, said: “Our multimanager division is run on a team approach and Josef was backed up by a second analyst, as each of our regional funds are, as well as a 12-strong multi-manager team." Mr Ellis said a replacement is being sought for Odili as well as the three departures in July.