Fidelity names new manager for financials fund

Sotiris Boutsis has assumed control of Fidelity's offshore Global Financial Services fund, replacing Tal Eloya.

Boutsis joined Fidelity International as a research analyst in 2002, before moving to the group's pan European financials team in 2006, with specific responsibility for UK and Irish banks. He also ran an internal European financials portfolio during 2007. Eloya, who took over the fund at the beginning of 2008, remains a key part of Fidelity's global equity team and has relinquished the role to broaden his knowledge beyond the financials sector. The €403 Global Financial Services fund was 37% weighted to US stocks at end November 2009, with a further 19% in the UK. Its largest holding...