Fidelity's Wright plans for new era as Shah denies 'burnout'

Fidelity's Sanjeev Shah has said he is "not burnt out" as he prepares to step down from fund management - and has warned a period of market consolidation lies ahead.

Shah (pictured) is to hand over the £2.8bn Special Situations portfolio to colleague Alex Wright at the end of 2013 as he ends a 17-year career as a fund manager and analyst. He said his decision was "very much a personal one", and based on the level of commitment required to run the fund. "This is a role which demands 110% effort, focus and intensity. I am not burnt out in any way, but I have decided I do not want to put in the same level of focus and discipline that I have done over the past 17 years," Shah said today. After taking a six-month break at the start of 2014, Shah wil...