New blood heading Fidelity funds

Fidelity Investments Canada ULC today announced that Derek Young, long-time Fidelity portfolio manager and chief investment officer of the Global Asset Allocation Group for Fidelity in the U.S., will be assuming the role of co-lead of the Fidelity Canadian Asset Allocation team, which manages the Fidelity Canadian Asset Allocation Fund, Fidelity Dividend Fund, Fidelity Income Allocation Fund and the Fidelity Monthly Income Fund.

Young will be joined as co-lead of the Fidelity Canadian Asset Allocation team by Fidelity portfolio manager and asset allocation expert Geoff Stein. Young and Stein will be taking over from Bob Swanson, who is leaving to pursue opportunities outside the organization.

Young has a MBA from Vanderbilt University and is a Chartered Financial Analyst (CFA) charterholder. He has also published articles and chapters in books on risk management and investment management. Prior to joining Fidelity in 1996, Young worked for the Board of Governors of the Federal Reserve of the United States.

Stein joined Fidelity in 1994 with a BA from Yale University and a MBA from the Stanford University Graduate School of Business. He is a Chartered Financial Analyst (CFA) charterholder, a member of the CFA Institute and the Boston Security Analysts Society and serves on the Board of Overseers of the Boston Children’s Museum.

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