Sanjeev Shah is stepping down as manager of the Fidelity UK Aggressive Fund to be replaced by Mark Hodges, according to IFAs.
Shah will move to run the offshore Fidelity European Aggressive Fund after current manager David Baverez leaves the group. The £234m UK Aggressive Fund returned 26.1% over the year to 1 August 2005 against a UK All Companies sector average of 23.8%, bid to bid, according to Standard & Poor's. This ranks it 49 out of 289 in the sector. Hodges previously ran institutional mandates for the group. IFAonline
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