On The Shelf: Fidelity replaces Goudie on key funds

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(August 18, 2008) Fidelity Investments Canada has announced changes to the management of a handful of global and international fund portfolios.

Cesar Hernandez will assume lead portfolio manager responsibilities on the Fidelity International Disciplined Equity Fund and Fidelity Overseas Fund, succeeding Chris Goudie.

At the same time, Hernandez and his team will take over the international equity component of the Fidelity Global Disciplined Equity Fund and the Fidelity Global Opportunities Fund.

On the flagship Fidelity NorthStar Fund, Goudie has been replaced on the international equity component by Joel Tillinghast and Cecilia Mo, who currently co-manage the rest of the fund.

On the Fidelity Global Fund, lead portfolio manager Michael Strong will be joined by the Global Equity Allocation Team, comprised of CIO Bob Haber, Bob Swanson and Bill Hoyt. Haber will succeed John Power as manager of the fund’s U.S. component.

“The changes we announced today follow an extensive review of international and global line-up of funds, aimed at making these important funds more competitive, and providing our investors with strong, consistent long-term performance,” said Chris Pepper, director of corporate affairs, Fidelity Investments Canada.

All changes are effective October 1, 2008.

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Three Trimark funds reopened

(August 18, 2008) Invesco Trimark has announced it will reopen Trimark Global Endeavour Fund, Trimark Global Endeavour Class and Trimark Global Mid-Cap Equity Private Pool, accepting new investors into the funds for the first time since July 2007.

All three funds invest largely in the mid-cap space, and last summer these companies were trading at a premium to their large-cap cousins. That made the funds a little unwieldy, so the fund managers capped them.

Market declines over the past year have presented some fresh buying opportunities in the mid-cap space, however, and the managers have decided they cancould now accept fresh capital.

Series D units of Trimark Global Endeavour Fund will remain closed to new investors. Investors already holding such units in an account may continue to buy them.

(08/18/08)