~ Steve DuFour to manage Fidelity Growth America Fund ~
TORONTO, Jan. 14, 2013 /CNW/ - Fidelity Investments Canada ULC today announced that Steve DuFour, a top-performing Fidelity U.S. equity portfolio manager will be assuming portfolio manager responsibilities for the Fidelity Growth America Fund. DuFour assumes portfolio management responsibilities from Young Chin who remains in his role as Chief Investment Officer for Pyramis Global Advisors, LLC. This change will be effective on or about February 1, 2013.
DuFour currently manages a number of funds for U.S. investors including the top-performing Fidelity Focused Stock Fund.
The Fund's investment objectives remain the same under DuFour as it strives to achieve long-term capital growth by investing primarily in equity securities of U.S. companies. Similar to the Fund's current investment strategy, DuFour employs fundamental, bottom-up equity research in selecting investments. Going forward, DuFour will seek to meet the Fund's investment objective by investing in a more concentrated manner than previously. Additionally, the Fund's name will be changed to Fidelity U.S. Focused Stock Fund and its corresponding Class version will be changed to Fidelity U.S. Focused Stock Class.
"This change enhances our U.S. equity fund lineup and we are excited to bring Steve DuFour, one of Fidelity's top-performing U.S. portfolio managers, to the Canadian marketplace" said Craig Strachan, Vice President, Head of Product, Fidelity Investments Canada.
In November 2012, Fidelity introduced a number of new U.S. mutual funds including Fidelity U.S. Monthly Income Fund, Fidelity U.S. Dividend Fund, as well a capital yield version of the Fidelity U.S. Monthly Income Fund. All of these funds have sold very well since their launch. Fidelity has over 65 years of experience in managing U.S. equity portfolios and investors benefit from Fidelity's experience as well as the expertise and access of its investment professionals including teams of portfolio managers, research analysts and traders.
DuFour joined Fidelity as an equity analyst in 1992 and was named as a portfolio manager in 1993. From 1993 onward he has managed a number of funds for U.S. investors as well as leading different investment teams within Fidelity. He earned a Bachelor of Arts degree in American studies from the University of Notre Dame in 1988 and an MBA in finance from the University of Chicago in 1992.
About Fidelity Investments
Fidelity Investments Canada ULC is part of the Fidelity Investments organization of Boston, one of the world's largest providers of financial services. Recipient of the 2012 Morningstar Advisors' Choice Fund Company of the Year, Fidelity Canada manages a total of $70 billion in mutual fund and institutional assets. This includes $14 billion in 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 Canada provides Canadian investors a full range of domestic, international and income oriented mutual funds, as well as asset allocation and managed solutions and the high net-worth program, the Fidelity Private Investment Program. Fidelity funds are available through a number of advice-based distribution channels including financial planners, investment dealers, banks, and insurance companies. 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.
SOURCE: Fidelity Investments Canada Limited
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