Recent Fund-Manager Changes

Recent manager changes have occurred at both ends of the mutual fund size spectrum.

At a relatively large member of a huge fund family, Andrew H. Sassine became the portfolio manager of Fidelity Small Cap Stock Fund(FSLCX Quote), succeeding Paul L. Antico, who is retiring from portfolio management after 17 years at Fidelity. Sassine will continue to manage Fidelity International Small Cap Opportunities Fund(FSCOX Quote).

Sassine joined Fidelity in 1999 as a high-yield research analyst, and followed the telecommunications, satellite, technology, defense and aerospace, and restaurant industries. In 2001, Sassine joined the international equity group as a research analyst covering international small-cap and mid-cap stocks. He subsequently spent a year in Hong Kong following Chinese small-cap and mid-cap companies prior to taking over management of Fidelity International Small Cap Opportunities Fund in 2005.

The major portfolio holdings of the Fidelity Small Cap Stock Fund include Perot Systems(PER Quote), The Geo Group(GEO Quote), Knight Transportation(KNX Quote) and Alliance Data Systems(ADS Quote). ...