Fidelity Investments today announced portfolio manager changes involving several of its funds, according to the company's website.
Jennifer S. Uhrig was named portfolio manager of the $20.4 billion Fidelity Blue Chip Growth Fund. She replaces John B. McDowell, who is retiring after 20 years managing Fidelity equity mutual funds, and Brian J. Hanson, who will continue to manage the $21 million Fidelity Advisor Strategic Growth Fund and the Fidelity VIP Growth Stock Portfolio variable annuity.
Portfolio manager Jason Weiner will replace Ms. Uhrig as manager of the $6.3 billion Fidelity Advisor Equity Growth Fund and the Fidelity VIP Growth Portfolio, Fidelity said. Portfolio manager Robert C. Bertelson will replace Mr. Weiner as manager of the $4.6 billion Fidelity Independence Fund and will continue to manage the equity portions of the VIP Asset Manager and VIP Asset Manager Growth variable annuities. Portfolio manager Peter Saperstone will succeed Mr. Weiner as manager of the $1.2 billion Fidelity Fifty Fund and the $108 million Advisor Fifty Fund, while continuing to manage the $7.6 billion Fidelity Advisor Mid Cap Fund.
In other changes, C. Robert Chow was named portfolio manager of the $11.6 billion Fidelity Equity Income II Fund, succeeding Stephen M. DuFour, who will continue to manage institutional accounts, according to Fidelity spokesman Vin Loporchio. Mr. Chow will continue to manage the $7.2 billion Fidelity Advisor Equity Income Fund. Scott Offen was named portfolio manager of the $122 million Fidelity Advisor Equity Value Fund, also succeeding Mr. DuFour. Mr. Offen will continue to manage the $941 million Fidelity Value Discover Fund. Richard B. Fentin was named portfolio manager of the VIP Value Portfolio variable annuity, also succeeding Mr. DuFour. Mr. Fentin will continue to manage the $17.1 billion Fidelity Value Fund and the $131 million Fidelity Advisor Value Fund.
James Morrow was named portfolio manager of the $1.7 billion Fidelity Advisor Diversified Stock Fund, succeeding Timothy M. Cohen, who took over the $30 billion Fidelity Growth & Income Fund a year ago. Mr. Cohen has been managing both funds. Mr. Morrow will continue to oversee the $1.7 billion Fidelity Select Technology Portfolio, the $2.2 billion Fidelity Select Electronics Portfolio and the $30 million Fidelity Advisor Electronics Fund.
