Ian Spreadbury, a London-based fixed income portfolio manager at Fidelity International, is set to retire end of this year.
Spreadbury, who joined Fidelity in 1995, is responsible for managing the Fidelity Funds (Sicav) Flexible Bond fund, Fidelity Strategic Bond fund, Fidelity Short Dated Corporate Bond fund, as well as Fidelity MoneyBuilder Income fund and Fidelity Extra Income fund.
Following this, Tim Foster and Claudio Ferrarese will assume joint responsibility for the Fidelity Funds Flexible Bond fund, which is available to investors in Hong Kong and Singapore.
Meanwhile, Sajiv Vaid will step up to become the lead manager for the Fidelity MoneyBuilder Income fund and Fidelity Extra Income fund.
Vaid is a fixed income portfolio manager with over two decades of experience and has been the co-manager for the funds for three years.
He is supported by Kristian Atkinson and Citywire A-rated Peter Khan. Atkinson will co-manage the Fidelity MoneyBuilder Income fund and the Fidelity Short Dated Corporate Bond fund, while Khan will co-manage the Fidelity Extra Income fund.
Spreadbury has been integral to the growth of its fixed income team, which has seen its assets under management rise to £65 billion ($84.47 billion) as of September.
The growth has come from the success of core fixed income products such as the Fidelity MoneyBuilder Income fund, as well diversification into other areas such as emerging market debt and high yield.
Fidelity said its global fixed income team comprised of 69 investment professionals.