Fidelity has made a series of changes to the management of various strategies in anticipation of a number of portfolio managers departing.
Richard Malnight has been given sole responsibility of the $1.3 billion Fidelity Select Chemicals portfolio. He succeeds Mahmoud Sharaf, who has decided to pursue other opportunities outside of Fidelity.
Nicola Stafford has been appointed as lead manager of the $2 billion Fidelity Select Retailing portfolio. She joins Deena Friedman, who will serve as co-manager until the end of the year, when she will exit to pursue other opportunities.
Matthew Drukker has been named lead portfolio manager on the $227.9 million Fidelity Select Wireless portfolio joining Harlan Carere, who is to serve as co-manager until the end of the year, at which point Drukker will assume sole responsibility. Carere is also leaving the firm to pursue other opportunities.
Mirshekari also manages the sub-portfolios of several funds, including the $39.6 billion Fidelity Low-Priced Stock fund, the $751.7 million Fidelity Stock Selector Large Cap Value fund and the $7.9 billion Fidelity Value fund.
Meanwhile Shadman Riaz has been appointed as manager of the materials sector assets of the Fidelity Stock Selector Mid Cap fund.
Riaz manages sub-portfolios on several funds, including the $5.5 billion Fidelity Series Small Cap Opportunities fund and the $1.5 billion Fidelity Stock Selector Small Cap Opportunities fund.
On the Fidelity Stock Selector Mid Cap fund Mirshekari and Riaz succeed Monty Kori, who has left Fidelity to pursue other opportunities.