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Fidelity Shuffles Management Ranks at Some Select Funds

Affected funds include the medical-equipment offering.

There are new faces on a couple of


Select funds this month.

On Sept. 1 Christine Schaulat took over

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Fidelity Select Medical Equipment and Systems and Ian Gutterman took the helm of

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Fidelity Select Transportation on Sept. 1, according to a company statement. Schaulat replaces Kerry Nelson, who will become a portfolio assistant on the Boston fund titan's small-cap team and Gutterman succeeds Jeffrey Feingold, who will continue to run

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Fidelity Select Air Transportation and

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Fidelity Select Defense & Aerospace.

Schaulat joined Fidelity in 1997, beating her average peer while running

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Fidelity Select Banking from January 1998 through April 1999. Since then she's covered Net stocks. Younger analysts and managers typically run Select funds in disparate industries because the funds are a training ground where analysts cut their teeth as fund managers.

Gutterman will continue to manage

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Fidelity Select Environmental Services, which he's run since November and is up 17.7% since Jan. 1. Gutterman joined Fidelity last year from

M&T Bank

in New York, where he'd been a Treasury analyst from 1995 to 1997, according to a company statement.