Michael Bargholz

Fidelity Worldwide Investment (‘Fidelity’) has announced the launch of a new Australian Equities fund – the Fidelity Future Leaders Fund. The Fund will invest in stocks outside the ASX top 50, offering investors exposure to the mid- and small-cap market through a portfolio of 40-70 stocks.

The fund will be managed by investment analyst and portfolio manager, James Abela, who has managed a successful pilot fund of the same strategy for the past four years.

Mr Abela has 15 years’ investment experience, the past 9 of which have been within Fidelity’s highly successful Australian equities team, where he has covered sectors including banking, insurance, diversified financials, consumer, healthcare, mining services and telecommunications.

The new Fund adopts a research based process which looks to identify stocks which have the viability of rising return on equity, sustainability of returns that can fund growth and the credibility of a quality management team.  Disciplined portfolio construction leads to a diversified portfolio which aims to be resilient to market pressures across the cycle.

Managing Director of Fidelity Worldwide Investment in Australia, Michael Bargholz, says the new Fund offers investors a new way to access Fidelity’s proven talent in this asset class.

‘We have been managing the Fidelity Australian Equities Fund with above benchmark performance for the past decade. James has been an integral member of the Australian Equities team during this time and we are confident this strategy will prove equally successful.’

Mr Abela will be supported by the research of 9 equity analysts covering stocks within his universe, as well as the broad investment resources of Fidelity’s global analyst team.

The Fund is available for a minimum initial investment of $25,000 and Fidelity will be looking to place the Fund on leading platforms in the near term.

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Michael Bargholz

Fidelity Worldwide Investment (‘Fidelity’) is pleased to announce that the minimum initial investment amount required in any one of its funds has been lowered from $500,000 to $25,000, across its fund range in Australia.

Previously, Fidelity’s product range has been available for a minimum initial investment amount of $500,000 or through the majority of investment platforms, at the platform minimum investment.  The launch of a wholesale fund range will ensure Fidelity’s highly regarded funds are available to advisers who prefer to buy funds directly.  Many SMSF trustees have a preference for investing directly into wholesale funds and until now they have had limited access to Fidelity funds.

The new $25,000 investment minimum applies across Fidelity’s product range available in Australia, including our award winning Fidelity Australian Equities Fund which celebrated a 10 year anniversary last month, the highly-rated Fidelity Global Equities Fund which itself reached a milestone of 15 years earlier this year, and our range of Asian equity funds.

Commenting on the announcement, Managing Director of Fidelity Worldwide Investment in Australia, Michael Bargholz, said: ‘The lowering of investment minimums is part of a long-term strategy to make Fidelity’s products more accessible and to continue to meet the changing needs of clients. Our research shows there is a buoyant market for wholesale funds.  We want to make sure Fidelity’s products are available to meet the needs of a broad section of the market.’

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Michael Bargholz

Fidelity Worldwide Investment today announces that Michael Bargholz has been appointed as Managing Director, Australia. Michael joined Fidelity in February as Senior Investment Director after a lengthy career with AllianceBernstein, where he was CEO and Managing Director, Australia and New Zealand. Prior roles include Managing Director of AXA Investment Management in New Zealand and Investment Strategist and Chief Economist for AXA Australia. Michael, who will report to Asia Pacific ex-Japan Managing Director Mark Talbot, takes up his new position with immediate effect.

Commenting on his appointment, Michael said, “It’s a privilege to serve in this role for an outstanding global firm and I look forward to contributing to the continued successful growth of the company in Australia.”

Mark Talbot said: “Michael will lead our growing and successful business supported by a strong management team. His knowledge and experience of the market, built up over many years, will ensure that we continue to focus on the needs of our clients as we broaden and deepen the reach of our business over the coming years.”

Fidelity’s Australian business has grown steadily in recent years and now manages client assets of over AU$11bn. The company plans to broaden its product range and to offer fixed income funds as part of its growth strategy, which is unchanged as a result of today’s announcement.

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With over 25 years of industry experience at leading global investment houses, Michael’s appointment further strengthens Fidelity’s Australian investment and business teams in offering market-leading investment solutions.

Michael was most recently at AllianceBernstein where he was the CEO and Managing Director of their Australian and New Zealand business for 11 years.  He was responsible for bringing the unique JV with AXA Australia to fruition. Prior to that he spent over 11 years with AXA, firstly as Chief Economist and Investment Strategist and later he moved into the role of Managing Director of Funds Management. 

He started his career as an economist within the Australian Treasury, based in Canberra, before moving into the private sector. Michael is a CFA charter holder and is a past Chairman of the Advisory Board of the Sydney CFA society. He also held the position of Deputy Chairman of the Financial Services Council between 2010 and 2011.

This is a new position for Fidelity’s Australian business, although Investment Directors perform a pivotal role in our investment teams in the UK, Europe and Asia, acting as an important conduit between the investment and business teams. 

Michael’s primary responsibility will be to work closely with Fidelity’s equity and fixed income investment teams across the globe and aligning Fidelity’s extensive capabilities to the increasingly sophisticated needs of our existing and prospective Australian clients. 

Commenting on the appointment, Managing Director, Gerard Doherty, said: “Michael has a considerable understanding of the global investment market place and the increasing needs of both wholesale and institutional clients, twinned with broad and deep investment knowledge. The combination of his experience and our existing strong investment and business teams enhances Fidelity’s ability to bring leading investment solutions to the Australian market.”

Michael Bargholz, added: “Fidelity is recognised by investment professionals around the world for its extensive research, disciplined approach to stock picking and sophisticated range of investment solutions. I am looking forward to joining the Australian business and contributing to its continuing success.”

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