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

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

Rating:Fidelity Makes Portfolio Manager Changes  Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, February 9, 2009

Fidelity Makes Portfolio Manager Changes

by: Armie Margaret Lee

The Wall Street Journal notes that Fidelity has started replacing portfolio managers whose funds fared badly last year. Two managers became analysts, another left the firm and Fidelity is looking for other opportunities with the company for two other managers, the Journal reports. The changes, say Fidelity watchers, are not typical for the Boston fund giant, which had been slow to switch portfolio managers in the past.

"One of our criticisms in the past was that they were too slow to make portfolio-manager changes, but Fidelity does seem to have stepped up the pace of that," said John Bonnanzio editor of Fidelity Insight, an independent newsletter.

Morningstar analyst Christopher Davis said that now, "the message is being sent loud and clear that if you have a cruddy year, you're out."

Fidelity funds that have seen portfolio manager changes recently include Mid Cap Growth, Equity-Income II, Advisor Growth Opportunities, Latin America, Select Financial Services and Select Home Finance.

Fidelity spokeswoman Anne Crowley would not say whether the changes were performance-related, but told the Journal that each "was a unique situation with unique circumstances." 

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
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
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. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use