Fidelity International has bolstered its fixed income team with the hire of experienced portfolio manager, Mike Riddell.
Mike will join Fidelity in August from Allianz Global Investors and assume responsibility as the lead portfolio manager for Fidelity’s strategic and total return bond strategies, with an effective date of 2 January 2025 at the latest, once contractual obligations have been fulfilled. Tim Foster, currently the lead portfolio manager for the strategic and total return bond funds will assume co-portfolio manager responsibilities.
Mike brings 22 years of industry experience in fixed income markets with a strong focus on macro unconstrained fixed income funds similar to Fidelity’s strategic and total return bond funds. He joined Allianz Global Investors in 2015 as a senior portfolio manager. At Allianz Global Investors, Mike was the head of the macro unconstrained fixed income team and was the lead portfolio manager for the strategic bond funds. In addition, Mike was the lead portfolio manager for the Allianz index-linked gilt and Allianz gilt yield funds.
Prior to Allianz Global Investors, Mike worked at M&G in London for 12 years as a fixed income portfolio manager. There, he was the lead manager of the M&G index linked bond fund, global government bond fund and gilt and fixed interest income fund.
Mike will report to Rosie McMellin, director of portfolio management, fixed income, and will be based in the company’s London office.
Steve Ellis, Global CIO, Fixed Income, Fidelity International comments: “Our ambition is to become a globally diversified leading manager of fixed income, drawing upon research, portfolio design and construction. To support this, we will continue to develop and invest in our own talent, as well as hiring the best from the market, if required.
“Mike is a highly experienced fixed income portfolio manager with a strong long-term performance track record and a philosophy centred on providing low correlation to equity in total return and unconstrained fixed income strategies. We are delighted to welcome Mike to the Fixed Income team and are confident that his top-down macro insights will enhance and complement our extensive bottom-up credit and quantitative research resources.”
Mike Riddell comments: “I am greatly looking forward to joining Fidelity’s Fixed Income team and being able to draw on a wealth of skill and expertise across the 100-strong team. I want to be able to take full advantage of Fidelity’s strength and depth to add further rigor to the investment process, portfolio construction and especially risk management and oversight, which should all help to benefit client outcomes.”
