Fidelity International has been selected to manage the £227m AUM Omnis European Equity Leaders fund, with portfolio management duties led by Sam Morse, replacing Jupiter Asset Management.
Omnis Investments said it selected Fidelity, which already manages the Omnis Global Emerging Markets Equity Leaders and Omnis Strategic Bond funds, following a "competitive selection process".
The fund, which will be managed by Fidelity from 1 October, primarily invests in companies domiciled, incorporated in or with significant exposure to Europe, excluding the United Kingdom.
It targets "industry-leading companies delivering reliable earning streams", with at least 50% of the portfolio invested in shares with a market cap of at least $10bn.
The fund targets both income and capital growth, and aims to outperform the FTSE World Europe ex UK TR index over a five-year rolling period after all fees and expenses.
Its new portfolio manager Morse has managed the Fidelity European Fund since 2009 and Fidelity European Values PLC since 2011.
Prior to managing these funds, he spent four years as a research analyst with the firm, covering a range of sectors, then three years as an equity income fund manager.
Morse was also previously head of equities and head of UK equities at M&G from 1997 to 2003, before re-joining Fidelity in 2004.
The fund had been managed by Cedric de Fonclare, who departed Jupiter Asset Management in May 2020.
Omnis said the decision to replace the current management team "was made as part of Omnis' focus on delivering the best outcomes for clients and the advisers that serve them".
Wealth and platform director at Openwork, which owns Omnis, Mike Morrow, added: "Following an extremely competitive selection process by Omnis, supported by Fundhouse, we are delighted to announce that Fidelity has been appointed as the manager for the Omnis European Equity Leaders Fund.
"Sam Morse is an experienced manager and our clients are now able to benefit from the long-established strategy that he uses to manage in excess of £2.5bn in Fidelity's headline European Equities OEIC fund.
"Our investment philosophy is to provide high quality investment solutions, which strive to achieve the results that Openwork clients expect from their investments over time. I have no doubt that Fidelity will manage the portfolio in the best interests of clients and advisers."