Fidelity small cap star Charles ‘Chuck’ Myers has left Fidelity and started a family office.
Myers departed the Boston-based asset manager January and is now chief executive of Myers Family Office.
In March 2016, he took a six-month leave of absence, returning in September that year.
At the time Fidelity said the leave was not due to health-related issues but instead to allow Myers to spend time with his family and pursue other interests after successfully running the Fidelity Small Cap Discovery fund for a decade.
Myers returned to run the fund in September 2016 until the end of 2017, at which point he was set to step down from portfolio management entirely, taking on a non-portfolio manager role with the firm. It has now emerged he has left the business entirely.
He was also manager of the $3.5 billion Fidelity Small Cap Value fund until January 2016.
Myers joined Fidelity in 1999 as an equity research analyst.
'After 18 years with the firm, Myers decided to step down,' a Fidelity spokesman said.
Taking some time
Separately, another Fidelity small cap star will take a three-month leave of absence, handing $11.8 billion in fund assets over to colleagues for the summer.
Citywire AAA-rated Patrick Venanzi will leave behind the $4.3 billion Fidelity Small Cap Growth fund, $1.6 billion Fidelity Stock Selector Small Cap fund and the $5.9 billion Fidelity Series Small Cap Opportunities fund from June 1 until August 30.
Jennifer Fo Cardillo and Slava Kruzement will be named interim co-managers on the Fidelity Small Cap Growth fund.
Cardillo will also be added to the Fidelity Stock Selector Small Cap fund and the Fidelity Series Small Cap Opportunities fund, joining lead manager Richard Thompson and co-managers Eirene Kontopoulus, Morgan Peck and Shadman Riaz.
Cardillo has been an equity analyst with the firm since 2009 and Kruzement, who joined in Fidelity 2012, is also an equity analyst.
Venanzi has been with the firm since 2001.
‘He is fully supported by his managers in Fidelity and the firm,’ said a Fidelity spokesman. ‘He’s asked to take some time away from Fidelity for personal reasons.’