Set to arrive at Fidelity in August, Vaid will take up a co-manager berth on the firm’s MoneyBuilder Income and Extra Income funds, working alongside lead manager Ian Spreadbury.
Vaid currently runs RLAM’s European Corporate Bond, UK Corporate Bond Pooled Pension and Corporate Bond vehicles, the latter of which is co-managed with Jonathan Platt, the group’s head of fixed interest.
Upon Vaid’s departure, Platt will become lead manager of the Corporate Bond fund while also assuming responsibility for Vaid’s other portfolios on a temporary basis, with RLAM confirming that it is in the process of hiring a permanent replacement.
As a result of the announcement, The Adviser Centre has subsequently removed the RLAM Corporate Bond Fund from its ‘Recommended’ list.
Andrew Wells, Fidelity’s global CIO of fixed income, solutions and real estate, said: “Our fixed income team and franchise continues to go from strength to strength in terms of both performance and capability.
“The arrival of someone of Saj’s calibre is testament to this and a clear signal of how we will continue to develop our fixed income business by developing our own talent, and hiring the best from the market at the same time.”
Vaid’s appointment follows a 14-year stint with RLAM, during which he managed £2bn of assets across his three funds along with £5bn in Royal London life fund assets, having joined in 2000 from Fuji Bank.