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Lodha would continue to act as a consultant for Fidelity International following 17 years at the firm, but it is another loss for the global equities team, which lost manager of the Global Emerging Markets fund, Alex Duffy, in May. Kochar joined from Columbia Threadneedle and had over 16 years’ investment experience spanning across management of US, global and absolute return products. He previously managed the Threadneedle Global Extended Alpha, American Extended Alpha, American Absolute Alpha and American Select funds. Prior to his 13 plus years at Columbia Threadneedle, he worked at hedge fund manager North Sound Capital and at Merrill Lynch. Romain Boscher, Fidelity International global chief investment officer – equities, said: “Ashish is a welcome addition to Fidelity’s already strong global equity team. ....
The Australian dollar is trading at around a near three-year high of about US77.5 cents, even nudging reaching US80 cents last week, as world markets shrug off the dire economic impact of COVID-19 and the local currency follows commodity prices higher. In Australia, an economic recovery is under way. Consumer spending has risen as COVID restrictions have been eased and the unemployment rate has fallen from its 2020 highs. Business and consumer confidence have lifted and commodity prices, iron ore in particular, have soared. Along with a generally weakening US dollar, this has helped push the Australian dollar higher. “Our outlook for the Australian dollar continues to be positive with the possibility that it will test five-year highs of around US81.2 cents before the end of 2021,” says Felicity Thomas, senior private wealth adviser with Shaw and Partners. ....