Senior insto BDM exits Fidelity

A senior institutional business development manager has left Fidelity and will begin work with AMP Capital Investors within the month.

John Meagher, who joined Fidelity in February 2005 and was also an associate within the company, recently left the funds manager and will begin work as senior institutional business executive with AMP Capital Investors from July 23. He will be Sydney-based and look after clients along the eastern seaboard. During his tenure at Fidelity, Meagher looked after institutional clients in NSW, Queensland, the ACT and New Zealand.

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NZ Super cuts benchmark return expectation on US valuation concerns

A view that the US stock market is overvalued and equity risk premia will be lower over the long term has driven New Zealand Super to lower the return expectations for its reference portfolio following its recent five-yearly review of the benchmark.

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