Fidelity's Reed quits to join US hedge fund

Brenda Reed, the manager of Fidelity's £334m Global Focus fund, is leaving to join a New York-based hedge fund.

Reed, who has worked at Fidelity for 18 years, will join George Weiss Associates in January where she plans to launch a global long-short strategy. She will be replaced on the Global Focus by Amit Lodha, manager of Fidelity Global Real Asset Securities fund. "I'm really interested that their product is basically a market-neutral product," Reed tells Bloomberg. "That's exciting because after the experience of the last couple years, that's really what clients are looking for. They want money to be managed in a risk-controlled fashion. They don't want to repeat the horrible experience...