Portfolio Manager Appointments

Tuesday, July 1st

There are no changes to my BUY-HOLD-SELL recommendations based on these manager changes.

 

Effective June 30, 2014:

Gordon Scott has been named portfolio manager of Fidelity Export and Multinational Fund (FEXPX), succeeding Heather Carrillo, who is taking a new position within Fidelity.

Scott has been with Fidelity since 2005, having initially covered transportation and machinery stocks as a research associate. Since May 2008, Scott has been a consumer research analyst. He began managing portfolios in 2011 along with his research responsibilities. With this appointment, he will immediately transition off Fidelity Select Consumer Discretionary Portfolio, Fidelity Advisor Consumer Discretionary Fund, VIP Consumer Discretionary Fund, Fidelity Stock Selector All Cap Fund and Fidelity Series Broad Market Opportunities Fund.

Peter Dixon has been named portfolio manager of Fidelity Select Consumer Discretionary Portfolio (FSCPX), Fidelity Advisor Consumer Discretionary Fund (FCNAX) and VIP Consumer Discretionary Portfolio. He has also been named as a co-portfolio manager of Fidelity Stock Selector All Cap Fund (FDSSX) and Fidelity Series Broad Market Opportunities Fund (FBMAX).

Dixon is a senior research analyst at Fidelity, responsible for covering global retail stocks. He has been the sector leader of the Global Consumer Team since 2012 as well as the sector portfolio manager of Fidelity Select Retailing since 2010, after managing Fidelity Select Leisure from 2008 to 2010. Prior to joining Fidelity in 2006, Dixon was an equity analyst at Wooster Capital Management during the summer of 2005. Previously, he worked as a professional health care representative at Pfizer, Inc. from 2002 to 2004, a director of market research and analysis at Matrix Datagroup from 2001 to 2002, and as a business analyst covering media and communications at American Management Systems from 1999 to 2001.

Deena Friedman has been named co-portfolio manager of Fidelity Select Retailing Portfolio (FSRPX) joining Peter Dixon.

Friedman joined Fidelity as an analyst on the Consumer Team in 2006, providing research coverage on many of the companies in the Select Retailing Portfolio. Prior to Fidelity, Friedman was a research analyst at Brean Murray in New York City. She has 15 years of experience in the investment industry.

 

Effective July 1, 2014:

Ali Khan has been named co-portfolio manager of Fidelity Select Software and Computer Services Portfolio (FSCSX), joining Brian Lempel.

 

Khan will remain portfolio manager of Fidelity Select Communications Equipment Portfolio and Fidelity Advisor Communications Equipment Fund, and remains responsible for analyzing securities in the large cap software industry. Kahn was previously an analyst covering networking and telecom equipment securities.  He also spent time covering the semiconductor industry. Kahn joined Fidelity Investments in 2007 as an equity research analyst in Fidelity’s summer internship program and then rejoined as a full-time analyst in 2008.