Fidelity has made changes to the management team on its $38.6 billion Fidelity Low-Priced Stock fund.
James Harmon is no longer named as a co-manager, after serving on the fund since 2011, according to a Securities and Exchange Commission filing.
Harmon joined the firm as an equity analyst, where he covered biotechnology and smaller healthcare services companies, before going on to work as a portfolio assistant and then a manager at the firm.
‘Harmon remains at Fidelity, focused on his other portfolio management responsibilities,’ said a spokesman from the business.
He has been replaced on the Low-Priced Stock fund by Citywire AA-rated Sam Chamovitz and Salim Hart, effective April 21 2017.
Chamovitz and Hart join lead manager Joel Tillinghast and co-managers Justin Bennett, Katherine Buck, John Mirshekari, Morgen Peck and Shadman Riaz.
Chamovitz joined the firm in 2007 and has worked as an analyst and a manager. Prior to joining the Fidelity, he was an equity analyst at Putnam Investments.
He is also the sole manager of the $1.2 billion Fidelity Advisor International Small Cap fund.
Likewise, Hart joined Fidelity in 2007 and has worked as a quantitative analyst and portfolio manager. Before joining Fidelity, he was a software development supervisor at Estorix.
Earlier this month, Citywire reported Fidelity’s leading equity income manager James Morrow will retire on December 31 leaving behind 13 of the firm’s mutual funds, accounting for $27.6 billion of assets.
This has triggered a series of further manager moves at the firm.