People moves

Fidelity appoints new manager for £500m sustainable fund

Jamie Harvey, previously the fund’s lead manager, is leaving the firm

Cornelia Furse (pictured) has been appointed lead portfolio manager of the £500m Fidelity Sustainable Global fund. 

The move comes after Jamie Harvey, previously the fund’s lead manager, decided to leave the firm. He will cease portfolio management responsibilities on 31 July 2023.

Furse will take over the role on 1 August. She will run the fund alongside existing co-portfolio manager Jeremy Podger, who will continue as lead portfolio manager of FIF Fidelity Global Special Situations.

Furse joined Fidelity in 2010 and worked as an analyst until 2021 covering a number of sectors including European mid-cap utilities, US health care, US consumer discretionary and US capital goods. 

She was appointed as co-portfolio manager on the Fidelity Sustainable Climate Solutions strategy in 2019 and as co-portfolio manager on the Fidelity Sustainable Water & Waste strategy in February 2021.  

Furse and Podger will be joined by Matt Egerton as assistant portfolio manager and Max Dawe as sustainable investing portfolio adviser.

Egerton and Furse bring strong complementary sustainable and investment credentials from their experience on other funds in Fidelity’s sustainable family of funds range

Their skillsets will allow for the portfolio to be run with a similar focus on duration and change to that which exists. There will not be any change in investment objective to the fund.

On 1 August 2023, Furse will relinquish her co-portfolio manager responsibilities on Fidelity Funds (SICAV) Sustainable Climate Solutions, to focus her time and expertise on the Fidelity Sustainable Global Equity strategy.

She will, however, remain as co-portfolio manager alongside lead manager Velislava Dimitrova on FF Sustainable Water & Waste. 

A spokesperson for Fidelity said: “We thank Jamie for his tenure and wish him the best of luck for the future. Further changes are being carefully considered and will be announced in due course.”

Algebris Investments boosts sustainable equity strategy with hire

Antonio Volpin has more than 30 years of experience in the energy and sustainability sectors

Algebris Investments, the global asset manager specialising in the financial sector, has appointed Antonio Volpin as senior investment director to help drive its sustainable equity strategy.

Volpin will work closely with the investment manager’s sustainable world team in Milan to support the development of Algebris’ global thematic equity strategy, which focuses on the scarcity of environmental and social resources.

He has more than 30 years of experience in the energy and sustainability sectors, working at McKinsey & Company from 1993 to 2022. Between 2008 and 2022, he led the firm’s electric power and natural gas practice, based in London then in Singapore.

Volpin has previously served as a consultant to several leading power companies worldwide. He has also helped government agencies in Europe and Asia frame regulation of the electricity sector to accelerate the energy transition.

Between 2017 and 2022, he was a member of the advisory board of Jera, Asia’s largest energy company outside China, based in Tokyo. Since 2023, he has been an independent member of the Board of Directors of SP Group in Singapore.

Davide Serra, founder and CEO of Algebris Investments, said: “I am very pleased to welcome Antonio to our team and look forward to working together. He brings a wealth of experience in the energy sector and will provide an invaluable contribution to our growing offering in sustainable investing. His global, all-round perspective is a crucial differentiating factor for Algebris.”

Volpin added: “Algebris has an excellent suite of actively managed investment solutions across asset classes. I am delighted to join the team as the firm seeks to develop its sustainable offering and capture the opportunities offered by the increasing global demand for new resources.”

Redwheel appoints Axa portfolio manager to launch sustainable strategies

Amanda O’Toole will manage clean economy and biodiversity funds

Redwheel has appointed Amanda O’Toole (pictured) to roll out two strategies within the firm’s newly created sustainable growth franchise.

The Redwheel Clean Economy fund will focus on high-quality, growth-oriented companies that have a positive impact on the environment.

Meanwhile, the Redwheel Biodiversity strategy will seek to invest in companies that have a positive impact on biodiversity.

Upon launch, O’Toole will manage both funds. She joins Redwheel after a 12-year stint at Axa Investment Managers, where she managed clean economy and biodiversity strategies.

She is joined by former Tesco Pension Investment Global Equity Fund manager Sebastien Bidault, who was previously assistant fund manager on JO Hambro Capital Management’s European Select Value Fund.

Tord Stallvik, CEO of Redwheel, said: “Amanda has significant expertise and an outstanding track record in running clean economy and biodiversity investment strategies and Sebastien is a skilled and experienced stock picker of high-quality, growth-oriented companies.

“The pair are the first hires for our new sustainable growth franchise and will be supported by our central sustainability team and Greenwheel, our sustainability insights and strategy function, launched earlier this year.”

Commenting on her appointment, O’Toole said: “Protecting our biodiversity and driving the global transition to a clean economy are not only imperatives for the future of our planet, they are among the biggest investment opportunities available. I look forward to contributing to Redwheel’s continued success and bringing this range of solutions to clients globally.”

This article first appeared on ESG Clarity’s sister title Portfolio Adviser.

Gresham House energy division investment director

Lefteris Strakosias has 15 years’ experience in infrastructure and renewable energy investments

Gresham House has hired an investor director to identify energy storage opportunities for the alternative asset manager’s new energy division.

Lefteris Strakosias will report to managing director and head of new energy Ben Guest and focus particularly on the firm’s flagship energy storage strategy, the Gresham House Energy Storage Fund.

Strakosias brings more than 15 years’ experience in infrastructure and renewable energy investments, having held principal investment and advisory roles with Maple Power, National Pension Service, Macquarie Group and Société Générale. He has worked on solar energy, onshore and offshore wind, anaerobic digestion, and hydroelectric power.

Guest said the hire will add further support to the team as it looks to expand its reach in the sector. “[Strakosias’] depth of experience in infrastructure and energy transition investments and his strong knowledge of the renewable energy sector will be a valuable asset as we continue to develop our capabilities in this important area.”

Strakosias added: “In recent years, Gresham House’s New Energy team has established itself as a leader in deploying and managing energy storage assets, which have a vital role to play as the transition to net zero unfolds. There are many compelling opportunities for Gresham House to grow its capacity and capabilities in this asset class. I am excited to be working with such a talented team to source and execute these exciting investment opportunities for institutional, wholesale and retail investors.”

Edentree appoints head of corporate responsibility 

Leonora Rae has been promoted to the role

EdenTree Investment Management has appointed a head of corporate responsibility and charity partnerships.

Leonora Rae (pictured) has been promoted to the role in order to align the business’s activity with EdenTree’s ethos as a responsible and sustainable investment manager, the company said.

EdenTree recently refreshed and formalised its corporate responsibility strategy into three focus areas: people, community and environment.

The move marked six years of its employee-led corporate responsibility committee and the launch of the Community Investment fund.

Rae, who joined EdenTree’s Charity Team in 2019, will work closely with EdenTree’s corporate responsibility committee to continue driving positive social and environmental change. 

Prior to joining EdenTree, she worked in the business development team at Cambridge Associates, partnering with endowments and foundations.

She has been involved with charities for some years, as trustee at three UK charities and as a proud champion of the Young Trustees Movement.  

Commenting on her role, Rae said: “Our corporate responsibility initiatives are at the heart of who we are as a responsible business and I look forward to continued collaboration with colleagues, clients, beneficiaries and charity partners to continue to drive positive change.”

Since 2016 EdenTree’s parent company, Benefact Group, has surpassed its giving target of £150m in grants and donations to good causes, according to the company. 

In 2023, the Directory of Social Change published its Guide to UK Company Giving 2023/4, and Benefact Group was named as the third largest corporate charity giver in the UK.

Quilter Cheviot boost charities team with investment manager hire 

Quilter Cheviot’s charities team provides investment services to more than 650 charitable organisations

Quilter Cheviot has hired Sarah Osato as an investment manager within its charities team.

Osato will be responsible for managing charity investment portfolios, and will work with the team in building new relationships with charities and promoting the Quilter Cheviot Global Income and Growth Fund for Charities.

She will report to William Reid, Quilter Cheviot’s head of charities.

Osato joins from tax recovery specialists WTax, where she worked as head of partnerships. 

She has also worked in the asset management industry at Anchor Capital, where she began her career as an equity research analyst, before progressing to portfolio manager.

Quilter Cheviot’s charities team currently provides investment services to over 650 charitable organisations and since 2020 has run the Quilter Cheviot Global Income and Growth Fund for Charities. 

The charity authorised investment fund invests across all assets and is designed to make accessing investments for charities less onerous and costly.

Osato’s hire follows other recent appointments at Quilter Cheviot, including that of Oswald Oduntan, who joined the managed portfolio service team as an investment manager in March.

William Reid, head of charities at Quilter Cheviot, said: “Sarah joins with valuable experience gathered across the broad spectrum of financial services and has a real understanding of client and portfolio management. 

“She is a great addition to the charity team and will be vital in assisting, as well as promoting, our services and capabilities, to a wide range of charity partners.”

Osato added: “Every charity is unique and faces different investment objectives and as such it is great to work at a company that offers the flexibility to help them find solutions that best fits their investment needs.”