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Thursday, June 21, 2007

Fidelity Unit Adds New Portfolio Manager

News summary by MFWire's editors

Pyramis Global Advisors, Fidelity's instiutional money management arm, has appointed Daniel E. Crowe as a portfolio manager. Crowe most recently served as portfolio manager of Dreyfus Founders Mid-Cap Growth Fund at Founders Asset Management, LLC, in Denver, Colorado.

Pyramis Global Advisors, a Fidelity Investments Company, today announced the appointment of Daniel E. Crowe as a portfolio manager within its expanding investment management organization. In his new role, Crowe will be managing portfolios of mid-capitalization growth equities for institutional clients.

Crowe most recently served as portfolio manager of Dreyfus Founders Mid-Cap Growth Fund at Founders Asset Management, LLC, in Denver, Colorado. In this role, he managed a $150 million portfolio comprised of mid-cap growth stocks. Dreyfus Founders Mid-Cap Growth Fund (Class R shares) was the top-ranked fund for total return according to the Lipper Analytical Services in the Mid-Cap Growth Funds category for the one-year period ended December 31, 2006 (out of the 621 funds). Class R shares ranked 21 out of 385 peer funds for the five-year period ended December 31, 2006.

"Pyramis continues to attract world-class talent to our investment platform," said Young D. Chin, chief investment officer for Pyramis Global Advisors. "Dan's addition is yet another example of the high caliber of investment professionals joining our firm."

Crowe has nearly nine years of investment management experience. He has been with Dreyfus Founders Funds since 2002, serving as an equity analyst from 2002 through 2004; assistant portfolio manager, mid-cap equities, from 2004 to 2005; and co-portfolio manager, mid-cap equities, beginning in 2005. In 2006, he was named portfolio manager, mid-cap equities.

From 1999 to 2002, Crowe was an equity research analyst at Marsico Capital Management, LLC, where he covered and made portfolio recommendations on a universe of stocks within the technology, wireless telecom, banking, housing, retail, and materials industries. From 1996 through 1998, he was with Anderson Consulting, advising clients on business strategy regarding data processing network solutions.

About Pyramis Global Advisors

Pyramis Global Advisors, a unit of Fidelity Investments, is an investment management company focused on serving corporate and public retirement funds, endowments, foundations, other institutions, and non-U.S. investors. The company offers active and risk-controlled domestic equity, international equity, fixed-income and alternative disciplines. At March 31, 2007, assets invested in those disciplines totaled more than $147 billion.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $3.2 trillion, including managed assets of $1.5 trillion as of May 31, 2007. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to more than 23 million individuals and institutions as well as through 5,500 financial intermediary firms. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com. 

Edited by: Erin Kello

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