Fidelity Strategic Bond fund manager to retire

After a successful career in fixed income, spanning almost 40 years, Ian Spreadbury, manager of Fidelity Strategic Bond, has decided to retire at the end of 2018.

From 1 January 2019, Tom Foster and Claudio Ferrarese, who have been co-managing the fund for the past year, will assume full responsibility for the management of Fidelity Strategic Bond. As a result of the change, Fidelity Strategic Bond will lose its Elite Rating.

Ian Spreadbury joined Fidelity International in 1995 and has been integral to the growth of its fixed income team over the past 23 years.

Commenting on his decision, Ian said: “When I started at Fidelity back in 1995, the fixed income team consisted of me, a trader and an assistant manager. Today, it’s a very different business with an array of experienced investment professionals and multiple portfolio managers.

“Having managed money for more than 30 years, of which many have been here at Fidelity, I have decided that now is the right time to retire from fund management. I am particularly grateful to our investors who have remained committed to my funds over such a long period.”

Darius McDermott, managing director of FundCalibre added: “Ian’s retirement is not a surprise. He has had a successful career in fixed income for four decades now and his experience will be missed. Unfortunately, as the new managers do not have the minimum three-year tenure on the fund to pass our screening process, the fund must lose its Elite Rating.

“We wish Ian all the best for his retirement.”

Past performance is not a reliable guide to future returns. You may not get back the amount originally invested, and tax rules can change over time. The views of the author and any people interviewed are their own and do not constitute financial advice. However the knowledge that professional analysts have analysed a fund or trust in depth before assigning them a rating can be a valuable additional filter for anyone looking to make their own decisions.