Money Management

Fidelity International adds fixed-income portfolio engineer

Lucette Yvernault joined Fidelity International as portfolio engineer, a spokeswoman said.

It is a new position. Ms. Yvernault leads a newly formed fixed-income portfolio engineering group. She manages and designs solutions for fixed-income portfolios, which target modest alpha levels and operate under tight investment constraints, drawing on a systematic investment process that involve low investment turnover.

Ms. Yvernault "has in-depth knowledge of the individual pressures faced by institutional investors, and we look forward to working with her as we develop the portfolio engineering group," said Charles McKenzie, global CIO, fixed income, in a news release.

Ms. Yvernault was a global credit portfolio manager at Schroder Investment Management. A spokeswoman was not available to comment about a replacement.