Fidelity Tech Fund Manager Jumps Ship

Fidelity portfolio manager Andrew Kaplan, who scored triple-digit returns last year on the (FSPTX Quote)Select Technology and (FSDCX Quote)Select Developing Communications funds, is leaving for a new job with an undisclosed asset manager.

He's the second Fidelity tech manager to bolt after posting eye-popping returns last year. Like baseball players who shine in the final year of their contracts, technology money managers are finding a lot of interest in the free-agent market.

"I think it's a strong job market for everyone. But for these guys, there's no question their future got dazzlingly bright last year," says Jim Lowell, editor of independent newsletter Fidelityinvestor.com. ...