Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Fido Replaces Fund Manager After Poor Stock Picks Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, June 12, 2013

Fido Replaces Fund Manager After Poor Stock Picks

News summary by MFWire's editors

Benjamin Hesse was replaced as a Fidelity [profile] fund manager after the fund performed inconsistently, Reuters reported.

Hesse managed a $717 million with a 53 percent return. Fidelity wants more consistent performances from fund managers after customers pulled $24.4 billion from its actively managed stock funds.

Hesse is pursuing other positions at the firm, possibly another position within the stock division. Hesse mentioned weak stock picking as a reason for the fund's performance in shareholder updates, citing VeriFone Systsems and Cetip SA Mercados Organizados. Chris Lee, a Yale-educated Fidelity fund manager, replaced Hesse. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use