Along with his duties on five other large hybrid funds at Fidelity Investments, Matthew Conti has been named portfolio manager of the
Fidelity Advisor High Income Fund, a small, interim-term bond fund with $16 million in assets under management.
Conti was given the added responsibility of managing the fund because, until now, he has managed only the high-yield portions of the five funds he helps manage, according to a Fidelity spokesperson.
The five funds for which Conti manages the high-yield portion are
Fidelity Asset Manager,
Fidelity Asset Manager: Income,
Fidelity Asset Manager: Aggressive,
Fidelity Asset Manager: Growth and
Fidelity Advisor Asset Allocation.
Conti succeeds David Glancy as the manager of the High Income Fund, which is up 7.2% so far this year after a 5.6% decline in 2000. Class A shares of the fund carry an upfront sales load of 4.75% and a 0.98% expense ratio.
Glancy will continue to manage the
Fidelity Capital & Income Fund, a high-yield bond fund, as well as two recently launched equity funds. These are the
Fidelity Leveraged Company Stock and the
Fidelity Advisor Leveraged Company Stock funds.