Fidelity International has named Tim Orchard as the new lead manager on its US$1.6 billion India equity fund, effective from 1 September.
In his new role, Orchard will be supported by Sandeep Kothari, who will operate in an investment advisor capacity.
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Orchard, who is head of equities for Asia ex Japan at Fidelity Worldwide Investments, will replace Teera Chanpongsang on the Luxembourg-domiciled Fidelity Funds – India Focus fund.
Chanpongsang was named as the successor to Allan Liu on the UK-domiciled version of the Fidelity South East Asia fund on 1 September.
Commenting on the changes, Fidelity chief investment officer, John Ford, said: "Given the attractive long-term growth prospects of Asia, and our belief that the progressive shift of economic power to these markets will encourage investors to commit more assets to the region over time, we believe that clients will be best served by our two South East Asia funds being managed by two separate managers."
The Fidelity Funds – India Focus fund returned 11.5% in the three years to the end of July 2013. This compares to a 13.89% rise by its benchmark, the MSCI India TR USD, over the same period.
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