Posted inHead To Head

HEAD-TO-HEAD: Blackrock versus Fidelity

FSA compares two global financial equity products: the BGF World Financials Fund and the Fidelity Global Financial Services Fund.
by Francis Nikolai Acosta

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Manager review

The Blackrock fund is managed by Vasco Moreno, who was appointed as the manager of the strategy in 2015. Before that, he began managing financial portfolios at Keefe Bruyette & Woods in London in 2006, where he ran a proprietary long/short financials strategy, according to Meakin.

Although the Blackrock fund is Moreno’s first long-only mandate, Meakin noted that he has dedicated his career to covering the financial sector.

“He has really good experience in the sector and has been focused on investing in financial stocks for 20 years,” he said.

Moreno is supported by a sizable team, including two-to-three analysts in London, three analysts in the US and other analysts in Hong Kong and Brazil who cover emerging markets, Meakin said.

Turning to the Fidelity fund, Sotiris Boutsis has been the lead manager since 2010.

Meakin noted that Boutsis has provided stability for the fund.

“Previously, many of the sector funds at Fidelity were seen as a stepping stone for career progression. But that changed when Boutsis took over,” he said.

In terms of analyst support, Boutsis is supported by 25 analysts globally.

Meakin said he does not have any concerns about the managers and teams for either fund due to the managers’ long track record and sizable analyst support.

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