Fidelity Worldwide Investment has handed its £1.1bn Japan Advantage fund to Mark Buffett as Ron Slattery steps down from fund management due to family circumstances.
Buffett joined Fidelity as Japanese equity analyst in 1998, and has since managed a number of portfolios including the Fidelity Funds - Global Healthcare fund between 2000 and 2002.
Based in Tokyo, he subsequently took over the Fidelity Japan Blue Chip fund in 2007.
In total Buffett currently manages $1.2bn on behalf of Japanese investors.
Fidelity Worldwide Investment said the investment objective of the Japan Advantage fund will remain unchanged.
The fund seeks to achieve long-term capital growth through investing in Japanese equities.
"We believe that Mark's extensive experience from managing Japanese equities, his investment credentials and strong track record make him very well suited to take over the FF - Japan Advantage fund," said a spokesperson.
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