MONEY MANAGEMENT

Fidelity portfolio manager to retire at end of year

James Morrow, a portfolio manager who oversees $27.6 billion in mutual fund assets for Fidelity Investments, will retire Dec. 31, spokesman Charles Keller said.

Mr. Morrow manages the Fidelity U.S. Dividend Fund and Fidelity U.S. Dividend Private Pool. He also co-manages the equity subportfolios of the Fidelity U.S. Monthly Income Fund and Fidelity Tactical High Income Fund, available to Canadian investors.

He is also portfolio manager of the Fidelity Equity-Income Fund, Fidelity Advisor Equity Income Fund and Fidelity VIP Equity-Income Portfolio, and is co-manager of the Fidelity Series Equity-Income Fund, Fidelity Advisor Equity Income Fund and Fidelity Advisor Diversified Stock Fund, all available to U.S. investors.

Ramona Persaud will assume lead portfolio management responsibility on Fidelity Equity-Income Fund and Fidelity VIP Equity-Income Portfolio on Jan. 1. Adam Kramer will continue to serve as co-manager on both funds.

John Sheehy will assume lead portfolio management on Fidelity Advisor Equity Income Fund on Jan. 1. Mr. Kramer will continue as co-manager.

Sean Gavin will assume sole portfolio management responsibility on Fidelity Series Equity Income Fund and Fidelity Advisor Series Equity Income Fund on Jan. 1.

Dan Kelley will assume sole portfolio management responsibility on Fidelity Advisor Diversified Stock Fund on Jan. 1.