Jan. 7, 2003 — Fidelity Investments announced several portfolio management changes effective January 1.
George A. Fischer has been appointed manager of the $3.4-billion Fidelity Government Income (FGOVX) and the $1.2-billion Fidelity Spartan Government Income (SPGVX), succeeding Thomas J. Silvia.
Fischer also has been named co-manager of Fidelity Advisor Mortgage Securities/A (FMGAX) with Silvia. Fischer will continue to manage Fidelity Intermediate Government Income (FSTGX), which he has managed since June 2002.
Kevin E. Grant was named portfolio manager of Fidelity Advisor Intermediate Bond/A (FDIAX), succeeding Andrew J. Dudley, who will continue to manage investment products at Fidelity.
Grant will continue to manage Fidelity Investment Grade Bond (FBNDX), Fidelity Spartan Investment Grade Bond (FSIBX), Fidelity Total Bond Fund (FTBFX), the bond portions of Fidelity Puritan (FPURX) and Fidelity Balanced (FBALX), and several institutional fixed-income portfolios.
Douglas T. McGinley has been named portfolio manager of the $1.8-billion Fidelity Spartan Intermediate Municipal Inc (FLTMX) succeeding Christine J. Thompson, who will continue to manage portfolios at Fidelity. McGinley will continue to manage Fidelity Spartan CA Municipal Income (FCTFX), Fidelity Spartan FL Municipal Income (FFLIX), Fidelity Spartan MI Municipal Income (FMHTX) and Fidelity Spartan OH Municipal Income (FOHFX), all of which he has managed since June 2002.
Mark Sommer has been named portfolio manager of the $1.7-billion Fidelity Spartan Sht Inter Municipal Income (FSTFX), succeeding Thompson. Sommer will continue to manage Fidelity Spartan NY Municipal Income (FTFMX), Fidelity Spartan NJ Municipal Income (FNJHX), Fidelity Spartan CT Municipal Income (FICNX), Fidelity Spartan MD Municipal Income (SMDMX) and Fidelity Spartan PA Municipal Income (FPXTX), all of which he has managed since June 2002.
In addition, Fidelity announced changes on its select portfolio stock funds.
Pratima Abichandani has been named manager of the $197.8-million Fidelity Select Energy (FSENX) and the $27.1-million Fidelity Select Natural Resources (FNARX), succeeding John R. Porter III.
Abichandani also will serve as sector leader of the natural resources equity research group. He previously managed the Fidelity Select Cyclical Industries (FCYIX) and Fidelity Select Medical Delivery (FSHCX).
In addition, Kelly S. Cardwell has been named portfolio manager of $647.9-million Fidelity Select Software & Computer (FSCSX), succeeding Christian Zann, who will continue to manage portfolios at Fidelity. Cardwell has been managing the $21.5-million Fidelity Select Automotive (FSAVX) since 2001, which will now be taken over by Robert S. Bao.
Bao will continue to manage Fidelity Select Enviromental Services (FSLEX), which he has managed since March 2002, and Fidelity Select Construction & Housing (FSHOX), which he has managed since September 2002.