Fidelity hires Dalton's Kaye as Vatis quits

Dalton Strategic Partnership's Peter Kaye is to join Fidelity to run its £1bn American fund, as current manager Aris Vatis leaves the group.

Kaye (pictured) will join Fidelity in the first quarter of 2013, as part of a doubling of the group's US portfolio manager capability from two to four. He will assume management of the £1bn Fidelity American fund from Vatis, who is to leave Fidelity this Friday. Adrian Brass, manager of the offshore Fidelity America fund, will run the  American OEIC until Kaye arrives. But Brass will hand over the £238m American Special Situations fund to Angel Agudo, allowing the former to launch a new US equity fund in the first half of 2013. Vatis' offshore American Growth fund will be taken ...