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Thursday, July 17, 2003

Fido Names Glancy Successor

by: Sean Hanna, Editor in Chief

Fidelity Investments tapped Thomas T. Soviero to take over its Leveraged Company Stock Fund replacing David Glancy. Word of Glancy's pending resignation was reported earlier this week. Soviero's appointment was one of three announced by the the Boston Behemoth.

Soviero, who has worked for Fidelity since 1989, will continue to manage Fidelity Advisor High Income Advantage Fund, according Fidelity officials.

Meanwhile, Mark J. Notkin will take over for Glancy as portfolio manager for the Fidelity Capital & Income Fund and will no longer act as the manager of Fidelity Variable Insurance Products (VIP): High Income Portfolio since October 2001. He joined Fidelity in 1994 as a high-yield analsyst.

Notkin's move opens the door to Matthew J. Conti, who becomes portfolio manager of VIP: High Income Portfolio. He will continue to manage Fidelity Advisor High Income Fund and has been at Fidelity since 1995.  

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