Fidelity Investments Canada ULC announces fund management changes



    TORONTO, Aug. 18 /CNW/ - Fidelity Investments Canada ULC today announced
portfolio management changes on specific global and international funds. These
changes are effective October 1, 2008.

    Fidelity International Disciplined Equity(TM) Fund, Fidelity Overseas
    Fund, Fidelity Global Disciplined Equity(R) and Fidelity Global
    Opportunities Fund

    Cesar Hernandez will assume lead portfolio manager responsibilities on
the Fidelity International Disciplined Equity(TM) Fund and Fidelity Overseas
Fund, succeeding Chris Goudie. Hernandez and his team have a strong track
record of performance along with proven experience in managing international
equities using a disciplined sector-neutral approach.
    Hernandez and his team will also assume responsibility for the
international equity component of the Fidelity Global Disciplined Equity(R)
Fund previously managed by Goudie. There are no other changes to the team on
this fund: Michael Strong remains lead manager of the Fund and John Power
remains team lead of the U.S. equity component. The Fidelity Global
Opportunities Fund will be managed by the same team.

    Fidelity Global Fund

    Fidelity veteran and lead portfolio manager Michael Strong will be joined
by the Global Equity Allocation Team. The team is comprised of Bob Haber,
Chief Investment Officer, and portfolio managers Bob Swanson and Bill Hoyt. In
addition, Haber will assume management responsibilities for the U.S. component
of the Fund succeeding John Power. Strong will assume primary portfolio
management responsibility for the international component of the Fidelity
Global Fund, succeeding Goudie.

    Fidelity NorthStar(R) Fund

    Going forward, the international equity component of the Fidelity
NorthStar(R) Fund, previously managed by Chris Goudie, will be split between
the existing portfolio managers, Joel Tillinghast and Cecilia Mo. Over the
past year, both managers have been finding investment opportunities outside of
North America and the Fund is well-positioned to capitalize on its "Go
Anywhere" mandate. This highly-rated Fund is the only way Canadian investors
can access the unique investing capabilities of Joel Tillinghast. Tillinghast
has been called one of the "ten best portfolio managers around" (Morningstar
U.S.) and "The Wizard of Fidelity" (SmartMoney Magazine) for the stellar
returns he has produced for U.S. investors in his Fidelity Low-Priced Stock
Fund. Co-manager, Cecilia Mo, is also noted for the strong returns she has
produced for investors across multiple funds, including the Fidelity
NorthStar(R) Fund.

    About Fidelity Investments Canada ULC

    Fidelity Investments Canada ULC is the country's sixth largest mutual
fund company and part of the Fidelity Investments organization of Boston, one
of the world's largest providers of financial services. In Canada, Fidelity
manages a total of $52 billion in mutual fund and institutional assets. It
offers Canadian investors a full range of domestic, international and income
oriented mutual funds. Fidelity funds are available through a number of
advice-based distribution channels including financial planners, investment
dealers, banks, and insurance companies. Fidelity Investments also administers
defined contribution plans and manages assets for institutional clients
including public and corporate defined benefit pension plans, endowments,
foundations and other corporate assets on behalf of clients across Canada.
Fidelity is a proud supporter of the Boys and Girls Clubs of Canada and we are
dedicated to helping young Canadians realize their full potential as
productive, responsible and caring citizens.




For further information:

For further information: Chris Pepper, Director, Corporate Affairs,
Office: (416) 307-5388, Mobile: (416) 795-7762, Email: chris.pepper@fmr.com


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