Based in Sydney, Rosie brings more than 20 years of experience in global equities across portfolio management, fundamental research and valuation. In her new role, Rosie will manage the Fidelity Global Equities Fund and Fidelity Hedged Global Equities Fund, a key offering within Fidelity’s Australian domiciled fund range.

Rosie’s appointment reflects Fidelity’s continued commitment to active global equity investing and to ensuring Australian clients have access to Portfolio Managers with deep global expertise.

Rosie joins Fidelity from Australian Foundation Investment Company, where she established and led the firm’s Global Equities strategy. In this role, she designed the investment process and built a diversified, long-term, low-turnover portfolio focused on high-quality businesses.

Prior to this, Rosie was a portfolio manager and head of franchises at Magellan Asset Management, where she was responsible for investment and portfolio recommendations and held sector leadership responsibilities within a concentrated global equities strategy. She also served on the firm’s Investment and Macro Committees.

Rosie began her career at Goldman Sachs, working in Sydney and New York for 15 years, where she gained extensive experience across valuation, strategy, capital markets and company analysis.

Simon Glazier, managing director, Australia, at Fidelity International, commented:

“Rosie is a highly experienced global equities investor with a strong track record of building disciplined, high-quality portfolios. Her deep expertise, combined with her experience in establishing and leading global equities strategies, makes her an excellent addition to our team.

“Rosie’s appointment reflects our continued commitment to strengthening our investment capabilities in Australia and delivering high-quality outcomes for our clients. We are particularly excited about her leadership of the Fidelity Global Equities Fund and the opportunity to further grow and evolve our offering in the local market.”

Rosie’s appointment underscores Fidelity International’s focus on investing in local talent and expanding its global investment expertise to better serve clients in Australia.

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In its report, Lonsec noted that “The Fund benefits considerably from Fidelity’s vast global research capabilities” and “experienced portfolio management team that shares significant co-tenure in operating this and other systematic strategies”.

The Fidelity Research Global Equities Fund focuses on equity securities of companies in developed and emerging market countries throughout the world. The strategy provides an opportunity for investors to leverage Fidelity’s research analysts’ best stock recommendations, in a systematically constructed portfolio to mitigate factor or style biases, with the aim of delivering strong returns primarily driven by Fidelity’s stock selection capabilities.  It is managed by three portfolio managers, Matt Jones, Hiten Savani and Daniel Swift.

The Fund’s investment philosophy is anchored on the belief that the consistent capture of proprietary idiosyncratic alpha from Fidelity’s global team of fundamental analysts delivers long term outperformance. Fidelity’s extensive global research platform benefits from over 50 years of investment knowledge and proprietary research that is grounded in the conviction that both overall macroeconomic trends and fundamental research can help predict the prospects of individual companies with a great degree of accuracy

Simon Glazier, managing director of Fidelity International Australia, says there has been growing interest in systematic investing approaches amongst Australian investors. “The current volatile market is one where systematic investing can be particularly attractive.  As an investment approach, it allows customisation, repeatability, risk control and portfolio construction. Investors are telling us that this stable and persistent approach is very attractive in an uncertain environment. And unlike conventional passive strategies, our approach offers the potential to outperform the index by harnessing the best ideas from our global team of analysts.” 

While there can be varied definitions of what systematic investing encompasses, portfolio manager Matt Jones says that Fidelity’s approach is to use strong fundamental research, systematic processes and strong portfolio construction to deliver alpha to investors.

“Systematic investing can also help avoid unintentional biases, both conscious and unconscious. This includes “style-drift”, where a value bet or growth bet, or a preference for large or small caps, can creep into portfolio construction without investors realising it. In addition, we can draw on our vast set of proprietary fundamental data that no-one else has access to, based on research and analysis by Fidelity experts from around the world, over many decades.  We also believe it is very important to be forward-looking, especially in the current environment, which is different to other quant-based funds,” he says.

In its report, Lonsec also noted the resourcing, saying: “The key edge over peers is the breadth of on-the-ground resourcing from Fidelity’s large analyst pool for idea generation.”

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Sam Besley

Fidelity International has appointed Gavin Butt as regional sales manager and Sam Besley as sales manager, further strengthening its wholesale distribution capability and reaffirming its long‑term commitment to the Australian market.

The appointments reflect Fidelity’s continued investment in deepening client relationships across the intermediary market and enhancing local sales expertise to deliver more tailored support aligned to evolving client needs.

Mr Butt will be based in Sydney and will focus on developing and deepening relationships across the private wealth, private banking and family office segments, supporting advisers with Fidelity’s range of managed funds, ETFs and managed accounts. He will report to Lauren Jackson, head of wholesale sales.

Mr Butt joins Fidelity International with more than 20 years’ experience across wholesale distribution, investment consulting and asset management. Most recently, he held senior roles at Natixis Investment Managers, including research & consulting and state manager, NSW & ACT, working closely with wholesale teams and research houses to support growth and retention across a multi‑affiliate platform. He has previously held senior roles at NAB Asset Management, AMP Capital, and Amundi.

Mr Besley will be based in Melbourne and joins Fidelity as sales manager, where he will be responsible for leading and deepening relationships with Fidelity’s key strategic clients at a head‑office level, including consultants and private wealth groups, and driving commercial relationships with key strategic clients. He will report to Lukasz de Pourbaix, head of strategic sales and solutions.

Mr Besley brings more than 15 years’ experience across wholesale distribution and strategic account management. He joins Fidelity from Ironbark Asset Management, where he was a key account manager covering consultant, private wealth and adviser channels. Prior to this, he held senior wholesale distribution roles at Robeco and Goldman Sachs Asset Management and previously worked at Fidelity International as a business development manager.

Simon Glazier, Fidelity’s managing director, Australia, says the appointments highlight Fidelity’s continued investment in the Australian market and its focus on building long‑term adviser partnerships.

“These appointments reflect our ongoing commitment to the Australian market and to investing in experienced, high‑quality local talent to support advisers and strategic partners. Gavin and Sam each bring deep market knowledge and complementary skill sets that will further strengthen our wholesale sales capability and help us deliver long‑term value for clients.”

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Simon Glazier

Australian workers are generally optimistic, notably about their work and health. However, there is growing concern about their long-term financial prospects, with particular attention to challenges in retirement planning. This is according to Fidelity International’s Global Sentiment Survey.

The annual survey, conducted with 38,000 respondents across 35 markets including US, Japan, mainland China, Brazil, the UK, Saudi Arabia and Australia, aims to analyse the sentiment of working adults towards their finances, health, work and life.

According to the research, 65 per cent of Australian workers are mostly optimistic about the next six months while 23 per cent are feeling pessimistic. However, when compared to responses from around the world, Australians are slightly below the average, where 69 per cent of global respondents say they are optimistic. They are also less optimistic that others in the APAC region in particular India (86 per cent optimistic) and China (85 per cent optimistic).

72 per cent of Australian workers say that cost of living/impact of rising inflation is causing them stress, compared to an average of 64 per cent in the Asia Pacific region. The next highest cause of stress is the state of the economy (60 per cent) followed by global geopolitical events (55 per cent). Meeting long-term financial goals (53 per cent) and saving enough for retirement (51 per cent) were also of concern.

Simon Glazier, managing director of Fidelity International says there are signs that Australians are more concerned about the economic outlook and geo-political volatility, and more affected by cost-of-living pressures, than their counterparts in other countries. “Most people, including in Australia, feel their work, personal lives and health are in good shape but are less confident about their overall finances, and less confident still about their retirement planning.  The research highlights that financial confidence is higher in the short-term, such as managing immediate personal finances and debt, than it is for longer term, including planning for the future and retirement planning.”

“In particular, Australian workers are more likely to say they feel stressed by cost-of-living issues, and more likely to have reduced their savings levels over the past year, than the global average. This could be driven by factors such as fears about housing affordability, or broader concerns about the concentration of the stock market and a potential AI bubble which would affect retirement savings in superannuation,” Simon Glazier says.

Around two-thirds of Australian workers describe their work/life balance as very or quite good (66 per cent), followed by work at 65 per cent and physical health at 62 per cent, with mental or emotional health and personal and social life close behind (both at 60 per cent).

The area of most concern is retirement planning, with just 43 per cent saying this is very or quite good.

“When it comes to retirement there is almost an equal number of Australians who feel ‘confident’ and ‘not confident’ about being financially comfortable in retirement (36 per cent vs 32 per cent),” Simon Glazier says. “This is despite Australia having a well-established superannuation regime that is looked up to by many other countries.

“It is clear that market volatility and uncertainty is playing a role in this. Many Australians say they haven’t changed their approach to saving/investing for retirement over the past six months (43 per cent).  However, of those who have changed their approach, the reasons given are revealing – 18 per cent say they have put more money towards investments because they believe the stock market will do well, while 10 per cent have put more into cash because they are worried about volatility. This shows there are very mixed views about the outlook for markets.”

The research also looked at whether people are planning to change their retirement timeline as a result of events in the past six months.

While two-thirds of 50+ year workers say they haven’t changed their plans (66 per cent), 27 per cent say they will retire later than expected and just seven per cent say they will retire earlier. Of these, the main reason for retiring earlier is to provide care for a family member (34 per cent). 25 percent are retiring earlier because of ill-health or physical impairment, and 21 per cent were made redundant and couldn’t find another job.  Just 30 per cent are retiring earlier because they have enough saved and can afford to.

For those who think they will retire later than expected, the main reason is that their retirement savings are not as much as they expected (41 per cent) followed by the fact that they enjoy work so want to keep working for longer (32 per cent).

Cost of living pressures are also having a direct impact on people’s financial situation, with savings levels in Australia taking a hit.

The research shows that Australian workers are more likely to have saved less in the past six months (28 per cent) than to have saved more (23 per cent) and the main reason given for saving less is rising household expenses (62 per cent).

“This is by far the biggest response – the next highest is 21 per cent who are spending more on ‘extras’ such as discretionary or luxury spend. Globally, the only other country that is spending more on household expenses, and therefore saving less, is Japan (63 per cent). Furthermore, those Australians who have saved more over the past six months say that the main reason is that they are spending less on extras (49 per cent).  The message is that Australians are spending more on essentials, and less on luxuries, compared to their global counterparts,” Simon Glazier says.

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Simon Glazier

Research from Fidelity International (‘Fidelity’), in partnership with the National Innovation Centre for Ageing (NICA), reveals one third of Australian pre-retiree and retirees aged 50 and over are financially unprepared for retirement and are facing a retirement savings shortfall of at least a decade, expecting average retirement savings of around $540,000.

Fidelity’s new report, The Longevity Revolution: Preparing for a New Reality, highlights the need for an urgent rethink of how people prepare for longer lives. Drawing on global research across 13 markets and in-depth surveys of over 11,800 participants aged 50 and over, the report highlights the growing gap between rising life expectancy and financial preparedness.

The 10-year savings gap was revealed by comparing how long people expected their retirement savings to last against the average life expectancy in their location. Globally, 42% of those surveyed were under-prepared by 10 years or more, although the proportion was notably lower in Asia-Pacific (APAC).

However, with life expectancy continuing to rise, the challenge is only growing. By 2050 an estimated 3.67 million people globally are expected to reach 100^[2]. When measured against a potential 100-year lifespan, globally, nearly four in five (81%) aged over 50 are underprepared by at least a decade, with around two thirds of Australians (67%) underprepared.

This is most notable among Australian pre-retirees with 51% of pre-retirees noting they may need to work for longer when considering the possibility of living a longer life, with 36% feeling most uncertain whether they will have enough money to last throughout retirement.

Simon Glazier, managing director of Australia at Fidelity International, comments: “While the majority of Australians feel prepared when it comes to their retirement savings and longevity, there is still a significant number that are experiencing a mismatch between life expectancy and savings. This is especially true for pre-retirees, who are concerned about whether their savings will allow them to retire at their desired age. With the right planning, longer lives can be a positive reality, but it requires a new mindset and earlier action to ensure financial security.

Preparing for a longer life

The top area where Australians need more support and guidance in planning for a longer life is in health and wellbeing maintenance (48%), followed by more support or guidance in financial planning and pensions (26%).

Around one in five Australia’s fear living longer than expected and running out of money, with 64% flagging they need to plan for more years of financial independence and security.

Overall, 65% of Australians have executed some sort of retirement plan, with 15% of those seeking professional financial advice, but this is significantly lower than others in the APAC region, with Taiwan (85%), Singapore (81%), and Hong Kong (79%) generally more proactive and demonstrating the highest rates of retirement planning.

Drilling down further, less than a fifth (18%) of global respondents know how to maximise investments, though this rises to 35% in Singapore and 32% in Taiwan. In Japan, just 9% have learnt how to do this as part of their retirement planning. While 59% of pre-retirees globally report knowing where their retirement assets are and how to access them, one in five do not – either because their savings are across multiple accounts (15%) or they have lost track of them (5%). Clarity around retirement savings is lowest in Hong Kong (44%) and Taiwan (51%), and highest in Australia (73%) and China (68%).

Rising healthcare costs, unexpected major expenses, changes to government policies around pensions and taxation, and insufficient savings were identified as the top financial worries among Australians during retirement. The top risk related to preventing them from achieving their long-term retirement goals included an unexpected life event (39%), high inflation (30%), and not having saved enough (26%).

The majority of Australian retirees rely on a state/public pension as a source of income (67%), followed by a private pension arranged by the individual (25%), and other private investments outside a pension (22%). This compares to pre-retirees in Australia, where 49% of are planning to rely on a state/public pension, followed by 36% on other private investments outside of a pension and 35% on a workplace/employer pension. Cash savings remain the predominant form of investment exposure for both pre-retirees and retirees in Australia (71%), followed by stocks (31%) and property (20%). Pre-retirees are more inclined to allocate to digital investments (11%) than retirees (1%).

Mr Glazier says: “While Australian pre-retirees are open to new investment opportunities such as digital assets, they generally continue to prefer holding cash, similar to what we see with those already in retirement. As life expectancy continues to rise, it’s increasingly important for people to shift their approach and move away from holding large amounts of cash and instead investing more actively. However given the high liquidity of cash, and the small percentage of people seeking professional advice, these active investment options may be misunderstood. The length of time savings are invested, especially within a diversified portfolio, becomes crucial for retirement security. By reinvesting dividends and embracing the investment opportunities in growth assets, individuals can take greater advantage of compounding returns and better prepare financially for a longer life.”

The four pillars to longevity readiness

Financial stability, physical health, emotional wellbeing, and social connectivity are all vital elements in longevity readiness. Fidelity’s research found that those Australians who had taken steps to plan for retirement, such as preparing a budget or identifying potential income streams, felt significantly more ready for life after work across each of these measures.

This highlights how preparation serves as the foundation not only for long-term financial security but also for the maintenance of critical determinants of holistic wellbeing in later life.

Mr Glazier adds: “When finances are secure, people can invest in their health, maintain social connections, and approach retirement with confidence. When they’re not, the entire structure is weakened.”

The critical success factors for longer lives

The report outlines five critical success factors to unlocking a roadmap to help people thrive in longer retirements and for enabling organisations and policymakers to respond effectively to demographic change:

1. Address financial anxiety early – Early financial guidance and education can reduce uncertainty and stress, helping people make informed choices and build long-term confidence.
2. Champion innovation in technology – Digital platforms, AI-powered tools and personalised guidance can bridge gaps in financial literacy with the appropriate guardrails, enabling individuals to plan more effectively.
3. Prioritise health and care – Addressing wellbeing and care needs early is essential. Helping people plan for health and care provision removes major uncertainties, supports independence, and improves quality of life.
4. Build trust in public systems and institutions – Transparent communication, reliable products and consistent policy frameworks are essential to building confidence in retirement systems.
5. Support holistic wellbeing – Timely interventions across all four pillars — financial, physical, emotional and social — ensures that no aspect of wellbeing is neglected, enabling individuals to enjoy longer, healthier, and more connected lives.

Mr Glazier concludes: “A longer life should be something to look forward to, not fear. We have an opportunity to create the conditions for people to not only live longer, but to also feel more financially secure and have a fulfilling retirement. Organisations and policymakers who embrace longevity wisely will not only support individuals in achieving security and purpose, but also establish a society that is wealthier, healthier and more cohesive than the one before it.”

———-

Notes:
[1] The analysis compares the number of years people are likely to spend in retirement against the number of years they expect their retirement savings to last. Results are then compared against both average life expectancy in their location and a potential 100-year lifespan to assess whether individuals are over-planned or under-planned for later life, and by how long. Because participants gave their answers in ranges rather than exact figures, NICA used a statistical model to estimate the most likely values within those ranges.
[2] Source: Pew Research Centre, March 2020

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Simon Glazier

Key points

• Survey of over 6,500 investors shows rising caution amidst volatility, with 53 per cent of Australian investors having increased their investments and cash savings
• The majority of investors are holding their nerve in instances when markets swing more than 10 per cent
• Despite retirement and financial independence topping investor priorities, most have investment horizons of less than three years

Volatility is set to be the defining feature of markets in 2025. Even as headline trade frictions have eased with recent US agreements, uncertainty persists around sector-specific tariffs, shifting implementation timelines, and the evolving US–China relationship. Added to this are diverging central bank policies, stubborn inflation in some economies, and uneven growth across Asia. Together, these forces point to a year where sharp swings, rather than steady trends, are shaping investment outcomes, creating a backdrop that is testing investors’ ability to remain focused on the long term.

Fidelity International’s Asia Pacific Investor Study sought the views of more than 6,500 individual investors across mainland China, Hong Kong, Taiwan, Singapore, Japan, and Australia, and reveals how investors are responding to turbulent market conditions and positioning themselves to achieve their financial goals. While most recognise the importance of staying invested for the long term, many are adopting a more cautious stance, underscoring the need for resilient strategies that can withstand market fluctuations and support long-term outcomes.

Investor reactions in volatile markets

Amidst 2025’s uncertain environment, 57 per cent of Australian investors have increased their cash savings, 53 per cent have increased their investments, and 47 per cent have increased contributions to their superannuation.

When asked where they would allocate additional funds from a hypothetical windfall equivalent to one month’s salary, Australian investors prefer to add to their investments (32 per cent) over allocating to cash (29 per cent) or paying off debts (19 per cent). This compares to the average APAC investor, who are more inclined to allocate to cash (35 per cent) over investments (31 per cent).

If the windfall was equivalent to a year’s salary, Australian investors are willing to invest slightly more in investments (35 per cent) and less in cash (27 per cent), compared to investors in the broader APAC region where the split is equally across cash (33 per cent) and investments (33 per cent).

The study also examined how investors respond to sharp market swings. When asked how they would respond to a 10 per cent drop in one day in one of their investments, 57 per cent of Australian investors said they would keep their investments unchanged. This was slightly below the general consensus across the APAC region (62 per cent).

Similarly, when faced with a 10 per cent increase in one day, 54 per cent of Australian investors would hold their position. Compared to the APAC region, Australian investors are more inclined to buy more units when markets rise (21 per cent versus 12 per cent), and least likely to sell (21 per cent versus 31 per cent). This indicates a regional difference in risk tolerance.

Chart 1: Reaction to a 10 per cent increase in value of an investment product

Source: Fidelity International, APAC Investor Study 2025

Simon Glazier, managing director of Fidelity Australia, said “As we continue to live through a highly volatile environment, our investor study seeks to understand how volatility is impacting investor behaviour. The results show Australian investors are more likely to stay invested, and invest more, during periods of volatility in the market compared to the rest of the APAC region. It is during times of uncertainty and volatility that investors can take advantage of opportunities in the market, which would otherwise be out of reach.”

“The data from the survey also indicates Australians are more likely to invest windfalls as opposed to keeping excess capital in cash. What this suggests is that across the APAC region, Australian investors understand the importance of investing and allocating excess cash into assets that can get them closer to achieving their desired return outcome.”

Long-term ambitions, short-term horizons

When focusing on a longer-term timeframe, investors in Australia’s top goals are saving for retirement (52% per cent) and achieving financial independence (50 per cent). Yet only 53 per cent are confident in achieving their financial goals.

Confidence varies across the region, with investors in Australia being the more assured on achieving their top financial goals at 79%, followed by mainland China (69%) and Singapore (58 per cent). This is compared to lower levels in Hong Kong (46%), Taiwan (40%), and Japan (38%).

Chart 2: Confidence on achieving financial goals

Source: Fidelity International, APAC Investor Study 2025

Despite the long-term nature of these goals, a majority of investors in the APAC region (55 per cent) say their primary investment horizon is less than three years. Fewer than one-third (31 per cent) are investing with a time frame beyond five years. Investors in Australia investors don’t skew from this trend with the majority (59 per cent) having an investment horizon of less than three years, and 27 per cent more than five years. They also expect an annual return of 10.1 per cent for long term investments compared with the average APAC investor expecting an 8.1 per cent annual return. This is the highest expectation in the region. 

Simon Glazier comments: “The study indicates that investors in Australia demonstrate the highest confidence levels in the APAC region and maintain a strong sense of optimism regarding their long-term prospects and ability to achieve financial objectives. Although there has been an increased allocation to cash savings this year, investors here continue to expect annual returns of 10.1 percent – the region’s highest projection. However, holding excess cash may not provide the anticipated results. It is important for investors to recognise that remaining invested throughout market cycles, rather than adopting a wait-and-see approach, is essential to realising long-term goals.

“With clear expectations for further market volatility ahead, having diversified portfolios and maintaining disciplined saving and investing will be key. At Fidelity International, our global investment expertise and deep research capabilities enable us to identify companies with strong growth potential, resilience across market cycles, and consistent income generation. This allows us to support investors in meeting a wide range of financial objectives with confidence.”

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Simon Glazier

Fidelity International has appointed Simon Glazier as managing director, Australia, with effect from 1 September 2024. In his new role, Simon will be responsible for delivering continued growth for Fidelity’s business in Australia, and further strengthening the firm’s offering for Australian investors.

Simon is an accomplished leader with more than 20 years of experience in the Australian market working in the asset management and financial services sector. He joined Fidelity in 2020 to lead the Wholesale segment in Australia and has led the development of a number of new products and solutions in response to evolving investor needs, along with the expansion of support for Fidelity’s advice and wealth management clients. Simon was previously at Ellerston Capital for five years where his last position was head of intermediary sales & marketing. He also brings to his new role a broad range of experience from senior positions at Colonial First State, Perpetual Investments and ING Australia.

Simon will report to Rajeev Mittal, managing director, Asia Pacific (Ex-Japan), Fidelity International.

Commenting on the appointment, Rajeev said: “I am delighted to appoint Simon to lead our Australian business into the next phase of its growth. Fidelity International has been supporting clients and investors in Australia for more than 25 years and it remains an important market for us. Under Simon’s leadership, we will continue to bring the best of Fidelity’s global research, capabilities and solutions to our clients in Australia.”

Simon replaces Lawrence Hanson who will leave Fidelity in September 2024 for an external opportunity. 

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Mr Lucas has over 15 years’ experience in financial services and joins Fidelity from Challenger Limited where he was business development manager for four years. He has also worked at Asteron Life and David Lee & Associates, as well as with Scotiabank in Vancouver, Canada.

Mr Glazier said that Mr Lucas’ experience and industry connections, particularly in the Queensland market where he has worked for over seven years, will bolster Fidelity’s already strong capabilities.

“Benjamin has a strong track record in distribution and sales and a deep understanding of the needs of the financial advice community.

“This experience and knowledge, along with his solid relationships with financial planning groups, make him a great fit for our team,” Mr Glazier said.

Mr Lucas has a graduate certificate, applied finance, from the Queensland University of Technology, and is currently undertaking his Master of Finance at Griffith University.  He also holds a diploma, financial planning, from Kaplan Professional.

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Damian Cilmi

Fidelity International has launched its first Separately Managed Account (SMA), in partnership with Praemium, one of Australia’s largest providers of SMAs.

The mandate is an actively-managed Australian equity model managed by Kate Howitt. Fidelity has been working with Praemium and a mutual long-term client for some time to bring the right SMA solution to the Australian market.

Damian Cilmi, Praemium’s head of investment managers & governance, said: “Praemium is committed to providing its clients with access to high-quality managers and investment options. As one of the largest, most experienced global asset managers, Fidelity International recognises the importance of offering managed account solutions to meet the diversified and growing needs of investors and we are delighted to be their platform of choice for their first SMA.”

Simon Glazier, head of wholesale sales at Fidelity, said: “The SMA structure makes sense for the right client because investors own the shares they’re invested in which can offer tax benefits but don’t have administrative burden of investing directly in the stock market. At the same time, they’re benefiting from the expertise and research resources of a professional manager.”

The launch is Fidelity’s first foray into the Australian SMA market and opens up a new channel for investors to access Fidelity’s extensive global research capability.

“Fidelity is uniquely positioned to offer a broad set of services across asset management thanks to the breadth of our business and global footprint,​” said Fidelity Australia’s managing director, Alva Devoy.

“By offering these new capabilities, we can develop stronger, deeper relationships with our clients.”

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