Brenda Reed, a money manager at Fidelity Investments in London, said she's leaving to join hedge fund firm George Weiss Associates.
Ms. Reed, who oversees $1.3 billion, including the Global Focus Fund, will move to New York in January for George Weiss, she said Thursday in a telephone interview. Amit Lodha, portfolio manager of the Fidelity Global Real Asset Securities Fund, will take over her funds on Oct. 1, she said.
Ms. Reed, who started the Global Focus fund in 2003, will be moving her investments to Mr. Lodha over the next month or two, said she plans to start a global long-short strategy fund at George Weiss and, possibly, a global long fund after that.
“I'm really interested that their product is basically a market-neutral product,” Ms. Reed said. “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 of 2008 again.”
Douglas Doucette, a senior vice president at George Weiss, didn't immediately return phone messages left at his office and on his mobile phone. Fidelity's London-based spokeswoman couldn't immediately be reached for comment.
Reporter Douglas Appell contributed to this story.