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New Managers Join Four Fidelity Funds

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May 21, 2003 — Fidelity Investments recently appointed new portfolio managers for four of its sector funds that had been run by Shep Perkins, who took over Fidelity OTC (FOCPX) last month.

Brian Younger, who has piloted Fidelity Select Telecommunications (FSTCX) since March, also began overseeing Fidelity Select Utilities Growth (FSUTX), Fidelity Select Wireless (FWRLX), and Fidelity Advisor Telecomm & Utilities/A (FUGAX).

Yun-Min Chai, a former analyst, succeeded Perkins on Fidelity Select Developing Communications (FSDCX). Chai recently began following telecommunications equipment stocks, Fidelity said on its Web site. Previously, he had tracked retailers, trucking, air freight, auto parts and life insurance companies.

Perkins succeeded J. Fergus Shiel on the OTC fund after Shiel left Boston-based Fidelity.