Longstanding manager Sotiris Boutsis has retired from Fidelity International after 21 years at the firm.
Boutsis oversaw the £1.3bn Fidelity Funds Global Financial Services fund from 2010, having began at the firm as an equity analyst in 2002, before joining the Pan-European financials analyst team in 2006, where he worked until his promotion to fund manager.
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The portfolio was officially taken over by Mac Elatab and Lee Sotos on 1 August, with Elatab listed as the lead manager.
Both have worked with Boutsis for several years on the portfolio, and began their careers at Fidelity as analysts.
A spokesperson for Fidelity confirmed that the investment strategy would remain unchanged and continue to invest with a bottom-up approach in "quality franchises and long-term winners".
The spokesperson said the firm was "sad to see [Boutsis] go, but thanks him for his contribution and wishes him the best for the future".
