Fidelity is set to name the successor to its star fund manager Anthony Bolton, who will step down from front-line duties at the end of the year.
The announcement is being keenly awaited by advisers, many of whom have clients' money in the Special Situations fund.
Fidelity is set to brief some advisers and wealth managers on the appointment at a dinner tonight, before making a formal statement to the Stock Exchange early tomorrow morning.
See IFAonline.co.uk tomorrow morning to find out who will succeed Anthony Bolton.
Bolton is the most successful fund manager in the country since he began running the firm’s flagship Special Situations fund in 1979. The fund has produced first-quartile performance in each of the past five years and is now worth almost £3.2bn.
Fidelity announced in 2005 it would split the original £6bn Special Situations fund in two in the run-up to Bolton's departure.
Last summer Fidelity announced Jorma Korhonen, an unknown to retail investors, would take over one half of the divided fund which would have a global special situations mandate.
The identity of the successor to the other half of the fund has remained a closely guarded secret. Names in the frame include Fidelity managers Sanjeev Shah and Tim McCarron.
Meanwhile, Financial Express says Old Mutual’s £795m UK Select Mid Cap and Rensburg’s £72m UK Mid Cap Growth funds are likely to take on significant inflows after Fidelity’s announcement.
The data and research provider says the two products are best situated to benefit from any outflows from the Fidelity vehicle, depending on who steps into the breach when Bolton departs.
Bolton will take on a new role developing Fidelity's UK and European fund management and research teams.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Scott Sinclair on 020 7034 2636 or email [email protected]IFAonline
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