Fidelity Investments named new managers to oversee several of its mutual funds, including the $4.4-billion Fidelity Aggressive Growth Fund (FDEGX). Fidelity also noted that two of its portfolio managers are leaving the company.
Steven C. Calhoun took over the Aggressive Growth Fund and Fidelity Advisor Aggressive Growth Fund/A (FGVAX), succeeding Rajiv Kaul, who continues as a analyst.
Ranked 3 Stars by Standard & Poor's the Fidelity Aggressive Growth Fund has slipped 1.08% year-to-date through June 17.
Calhoun continues to co-manage the Fidelity Mid Cap Stock Fund (FMCSX) with Shep Perkins.
Lawrence Rakers was named manager of the Fidelity Advisor Balanced Fund (FABLX), and Victor Thay took over the Fidelity Growth & Income II Fund (FGRTX) and the Fidelity Advisor Growth & Income Fund (FGIRX). They replaced Louis Salemy, who is leaving Fidelity. Rakers also continues to pilot the Fidelity Balanced Fund (FBALX).
Thomas Soviero succeed Thay on the Fidelity Convertible Securities Fund. (FCVSX). Soviero runs three other Fidelity funds, including the Fidelity Leveraged Company Stock Fund (FLVCX).
Richard Fentin was named manager of the Fidelity Value Strategies Fund (FSLSX) and the Fidelity Advisor Value Strategies Fund (FSOAX). He succeeds Harris Leviton, who is leaving the company. Fentin also continues to run the Fidelity Value Fund (FDVLX) and the Fidelity Advisor Value Fund (FAVFX).
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