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Top tech manager steps down from €330 million fund

Top tech manager steps down from €330 million fund

Citywire A-rated manager Dmitry Solomakhin has stepped down as lead manager on the Fidelity Funds - Global Technology fund, the company has confirmed.

Solomakhin, who stepped down on October 31, had been lead manager on the €330 million fund since its launch in November 2008.

His co-manager HyunHo Sohn, a former tech analyst who was named as a portfolio manager on the strategy earlier this year, has taken over full control of the fund.

A spokesperson for Fidelity told Citywire Global: ‘Dmitry Solomakhin, who has managed the FF Global Technology Fund for five years, will concentrate on FAST Global, a new addition to our active extension product range which launched earlier this month.’

The FAST Global fund is a long/short global equity fund which the London-based manager had been running a pilot format since January 2012.

The Fidelity Funds – Global Technology A-EUR has returned 42.18% over the three years to the end of September 2013. This compares to a rise of 39.45% by the FTSE AW/Technology TR, its Citywire benchmark, over the same period and makes him among the top ten best performing managers in his sector.

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