Manager change for Select Retailing

Fidelity has announced the following manager change effective April 14th. There are no changes to our buy-hold-sell recommendations based on this manager change.

Peter H. Dixon has been named portfolio manager of Fidelity Select Retailing Portfolio, succeeding Evan Hornbuckle. Dixon has been managing Fidelity Select Leisure Portfolio since 2008. He joined Fidelity in 2006 as an equity research analyst covering consumer industries. Previously, Dixon was an equity analyst for Wooster Capital Management, beginning in 2005. From 2002 to 2004, he was a professional health-care representative for Pfizer, Inc. in Hartford, Connecticut. Previously, he was a director of Market Research and Analysis for the Matrix Datagroup, a health-care market research start-up in Denver, Colorado. Dixon began his career as a business analyst at American Management Systems in Denver, Colorado covering new media and communications.