Jonathan Shelon was named co-portfolio manager of the Fidelity Freedom Funds. He joins existing portfolio manager Ren Cheng in managing about $32 billion in Fidelity's series of 10 lifecycle mutual funds, said John Brockelman, a Fidelity spokesman. It is a new position. Mr. Shelon will remain co-manager of the Advisor series of nine Fidelity Freedom Funds and an associate portfolio manager of 529 college savings plans for the states of New Hampshire, Massachusetts and Delaware.
Stephen A. Balter joined Pioneer Investment Management as a portfolio manager, said spokeswoman Tara Pescatore. A Pioneer research analyst between 1996 and 2000, Mr. Balter will co-manage the Pioneer Growth Shares Fund and the Pioneer Mid Cap Growth Fund with Christopher Galizio. It's a new position. Mr. Balter was a portfolio manager at 2100 Capital Group, the fledgling hedge fund arm of Marsh & McLennan that the insurance broker recently disbanded.
Clay Carter joined Perennial Investment Partners as senior portfolio manager for global equities; he will manage the U.K. component of the firm's global equity portfolio, said Marsha Beck, manager-investment services. The new position "goes to strengthening Perennial's multiregional approach to managing its global diversified equities product," Ms. Beck said. Mr. Carter was senior portfolio manager-international equities at QBE Insurance Group. Officials at QBE were unavailable for comment by press time. Perennial Investment had A$12.7 billion (US$10 billion) in assets under management as of Feb. 28.