Fidelity International’s Jeremy Podger is to retire from portfolio management next March, the firm said today (27 September).
Podger bows out after a highly successful career spanning three decades. He has been running the Fidelity Global Special Situations Fund since 2012. The fund has consistently outperformed many peers and the IA Global sector during Podger’s time at the helm.
Earlier in his career he worked at Investec and then Threadneedle (now Columbia Threadneedle), where he ran its Global Select Fund from 2003.
Podger is not fully retiring from the industry however, as he will become a senior advisor to Fidelity International when he steps back from day-to-day fund management next year.
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A successor to Podger has not yet been confirmed by Fidelity.
A Fidelity spokesperson said: “After a distinguished investment career spanning over three decades, Jeremy Podger has informed us of his desire to step down from portfolio management at the end of March 2024.
“We are hugely grateful to Jeremy for his dedication, teamwork, and investment leadership and will be working closely with him over the coming months to ensure a seamless handover of responsibilities.
“Jeremy will remain closely aligned with Fidelity International in his future role as senior advisor, providing mentorship to investment colleagues, with the firm continuing to benefit from his investment and institutional knowledge, experience and network. Portfolio management changes will be announced in due course.”
Darius McDermott, managing director of FundCalibre, commented: “Jeremy has had a very successful career at Investec, Threadneedle and more recently Fidelity. He has returned first quartile performance – almost 100 percentage points more than his average peer – over his tenure managing the Fidelity Global Special Situations Fund.
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“While we wait to hear who the successors on the fund will be, it is reassuring to know that Jeremy has been involved in the selection process and that he will be ensuring a smooth handover of responsibilities.
“The fund will retain its Elite Rating until such time as we are able to meet the new managers and consider moving the fund to an Elite Radar position.”
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