Citywire AA-rated Gavin Baker has left Fidelity after 18-years with the firm.
Baker was sole manager of the $16.3 billion Fidelity OTC portfolio, which he began running in 2009.
The Fidelity OTC fund is ranked number one out of 141 Multi Cap Growth funds by Citywire for three-year total returns to the end of August. Over that time it returned 54.6% compared to the average Multi Cap Growth fund which was up 26.4%.
Baker is in his early 40s and had been branded a rising star of asset management.
In a recent New York Times article Baker said he looked to identify enduring technological themes, with artificial intelligence currently on his radar. ‘AI will change the world in ways we can’t even imagine now,’ he told the paper.
Over his tenure on the fund, performance has benefited from early access to a number of tech names such as Facebook, as well as Uber and Snapchat parent Snap.
Kalra was the sole manager of the fund from 2005 until Baker took over in 2009 and is currently the sole manager of the $21.9 billion Fidelity Blue Chip Growth fund.
Baker joined Fidelity in 1999 as an equity research analyst and managed the Fidelity Select Pharmaceutical portfolio from 2002 to 2005.
A spokesman for Fidelity said: 'Sonu and Chris are extremely talented investors who are more than qualified to take on management of the Fidelity OTC Portfolio on behalf of shareholders.'