Manager Changes

Here are a couple of new manager appointments for Fidelity’s Select funds. There are no changes to the BUY-HOLD-SELL ratings based on these changes. Thank you, Fidelity for letting us know.

 

New Portfolio Manager Appointments:

Effective July 23, 2012

Steven Bullock has been named portfolio manager for Select Medical Delivery Portfolio, succeeding Andrew Hatem. Bullock joined Fidelity Investments in 2006 as a research analyst and was responsible for covering energy and utilities companies, specifically Canadian oil sands companies and gas utilities. In 2008, he started to follow machinery and truck equipment stocks for domestic equity funds. Bullock was named co-manager for Select Industrial Equipment Portfolio in April 2010 and assumed full management responsibilities for the Portfolio in May 2010.

 

Effective August 7, 2012

Borys Kuroschepov has been named co-portfolio manager of Select Industrial Equipment Portfolio, joining existing manager Steven Bullock. Prior to joining Fidelity Investments in 2008, Kuroschepov served as a Global Financial Risk Management summer associate for Barclays Capital in New York in 2007. In his role, he was a part of the Hedge Funds group and was responsible for conducting due diligence and presenting reports on hedge funds with up to $12 billion in assets under management. He was an associate for Withum, Smith & Brown, PC in New Brunswick, New Jersey in 2006 and was responsible for planning and conducting audit engagements in various market sectors. From 2003 to 2006, Kuroschepov was an analyst for Ingis & Company, PA in Englewood, New Jersey and performed tax planning, entity restructuring and technical research. He began his career in 1999 as a managing partner and founder of Parallel, LLC, a consulting practice focused on delivering financial and computer solutions based in Kiev, Ukraine.