Sam Morse will take over management of the Fidelity European Fund from Tim McCarron who, Fidelity said, has decided to take some time away from the industry. The pair will work together on the fund until January.

“Although Sam’s investment style is similar to Tim’s in a number of ways, I believe he brings a fresh approach to the fund,” said Peter Hicks, head of UK retail sales at Fidelity International.
 
Mr Morse will be replaced as the manager of the Fidelity Money Builder Growth fund by James Griffin, who is a long-standing portfolio manager at Fidelity.

“James Griffin is one of our longest-serving UK equity portfolio managers and will bring an identifiable and strong record of out-performance to the management of MoneyBuilder Growth Fund,” said Mr Hicks.