fund analyst Greg Carlson looks into Fidelity
strategy of assigning solo fund managers to manage a second fund with
a different mandate, instead of letting a team of managers run a
The additional responsibilities were handed out April of 2009 when
became president of the equity division of Fidelity
Management and Research. Hogan PMed Fidelity Blue Chip Value
(FBCVX) from 2003- 2006 and Fidelity Worldwide
(FWWFX) from 2002-
2005. He says handling multiple funds at the same time made him a better, well-rounded investor.
Given this new strategy, Fidelity expects to see fewer changes of
portfolio-managers at its funds. That could help the firm
and investors because fewer manager changes means less strategy
shifts. And every time a shift happens, the fund in question suffers from higher
transaction costs and bigger capital-gains distributions.
Stay ahead of the news ... Sign up for our email alerts now