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January 15, 2004 at 07:00 PM
Jan. 9, 2004 — The co-manager of Fidelity International Small Cap (FISMX), which handily outperformed its peers last year, has left Fidelity Investments.
L.C. Kvaal, who had helped oversee the fund since its inception in September 2002, left to “pursue another business opportunity,” a company spokeswoman said.
Ben Paton, a Fidelity analyst based in London, replaced Kvaal, who was responsible for the fund’s European stocks. Tokuya Sano continues as the manager of the fund’s Asian stocks.
Fidelity International Small Cap’s 80.3% total return in 2003 was nearly double that of the average international stock fund. The portfolio is too new to carry an overall Star ranking from Standard & Poor’s.
