Citywire Americas rounds up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications this week.
Fidelity International appointed Bart Grenier to the newly-created role of global head of asset management.
Grenier is a veteran of Fidelity International’s US sister company Fidelity, having worked on and off for the firm since 1991, most recently as head of investment solutions and innovation in Fidelity's personal investing division.
In his new role he will be based in London and report directly to Brian Conroy, president of Fidelity International.
In other Fidelity International news, the firm is set to soft-close Citywire AA-rated Suranjan Mukherjee’s Asian equity fund after a steady increase in new money over the course of 2017.
In a December letter to shareholders, the asset manager said it would be introducing a series of controls for flows into the Fidelity FAST – Asia fund from February 12, 2018.
It hit $760 million in assets as at the end of November 2017 and Fidelity said it needed to impose restrictions to ensure Mukherjee’s investment philosophy – which focuses on long/short, high conviction positions – can be maintained.
Edmond de Rothschild Asset Management launched a thematic energy evolution fund to capture the changing mix of countries’ energy needs.
The new Ucits strategy is managed by the head of the raw materials equity team, Emmanuel Painchault, and portfolio manager Pierre Pedrosa.
The fund invests in companies linked to the evolution of the ‘energy mix’, which the firm defines as the combination of primary energy (oil, gas, coal, nuclear, hydro-power and renewable energies) used to meet the energy needs of a given country.
The fund follows the 'evolution' of that energy mix as a result of environmental pressures, including pollution and global warming, but also driven by technological advancements and political decisions.