Slattery is stepping down from fund management but will work alongside Buffett before returning to the US due to unexpected family circumstances.
Buffett, who is based in Tokyo, currently manages $1.2bn of assets on behalf of Japanese investors. He joined Fidelity in 1998 as a research analyst covering Japanese equities and was subsequently promoted to fund manager in 2005, managing the firm’s Global Healthcare Fund as well as the Fidelity Japan Blue Chip Fund.
As a result of the change Morningstar OBSR announced it is changing its analyst rating to ‘under review’ from its original ‘Bronze’ rating.
Morningstar OBSR will be meeting with Buffett in due course and will update the fund’s rating once it has had the opportunity to assess the development.
The investment objective of the fund, which is unchanged, is to achieve long-term capital growth through investments in equity securities of Japanese companies listed on Japanese stock exchanges.
