McLean has worked at the firm in Sydney and Hong Kong since July 2015, initially joining as an investment analyst and becoming a portfolio manager in January 2020.
Prior to joining Fidelity, he spent five years at AMP Capital as a portfolio manager and analyst.
He currently runs the $137 million Fidelity Australian High Conviction Fund and $138 million Fidelity Australian High Conviction Active ETF.
Following his departure on 10 June, the firm said it has appointed Zara Lyons to take over as portfolio manager on the two funds.
Lyons has worked at Fidelity since 2017, joining as an investment analyst from a position as senior healthcare analyst at investment company CITIC CLSA.
Launched in 2012, the Fidelity Australian High Conviction Fund offers a diversified and concentrated portfolio of 20–40 Australian stocks that have a sustainable competitive advantage, strong pricing market power, supportive industry structure, and strong management quality.
The active ETF version was subsequently launched in May 2024.
Fidelity said the objective of the funds will remain the same and will hold 20–40 stocks. However, there will be some “modest changes” to the portfolio construction and typical fund characteristics to align with Lyon’s investment approach.
Paul Taylor, head of investments, Australia, at Fidelity International said: “Zara’s many years of investment experience and strong track record in delivering research-driven results make her the right choice to lead this important solution for our clients.
“Zara is also a great example of internal talent progression and will play a central role in delivering great client outcomes within our Australian equities product range.
“We thank Casey for his decade of service and wish him all the best for his future endeavours.”
Fidelity announced the launch of four active ETFs last year for Australian investors. The four actively managed ETFs are Fidelity Global Future Leaders, Fidelity Asia, Fidelity India, and Fidelity Australian High Conviction.
Speaking at the time of the launch, McLean said Australia has strong corporate governance and strong population growth.
“Australia has strong corporate governance and a stable government, strong population growth, and we’re resource-rich. From a long-term investor’s point of view, it’s a pretty exciting time for Australian equities. This portfolio is designed to be a core position for long-term investors.”
