Fidelity Investments tomorrow will open a clone of the Fidelity Growth & Income Portfolio, a fund popular with 401(k) plans that was closed to most new investors last spring.
Fidelity Growth & Income II Portfolio will be managed by Louis Salemy, portfolio assistant to Steven Kaye, manager of the original fund.
The new fund has similar investment objectives, but will be managed independently.
Fidelity also shuffled several other mutual fund portfolio managers. William J. Kennedy became manager of the Fidelity Pacific Basin Fund, replacing Shigeki Makino, who was named director of research in Europe and will be based in London. Brenda A. Reed succeeded Mr. Makino as manager of the Fidelity Japan Fund. She will remain director of research for Fidelity in Japan