It's always important to keep a close watch on the fundamentals and performance of any of your mutual funds. But it's also important to know about the wizard behind the curtain pulling on the strings and running your investment.
That's why TheStreet.com Ratings is monitoring the manager changes going on at the mutual funds we track. Below is a list of the changes that took place during the months of January and February.
Fidelity kicked things off in early January, naming Yun-Min (Charlie) Chai manager of
Fidelity Select Technology (FSPTX). He succeeded James Morrow, who remains manager of
Fidelity Select Electronics (FSELX). Chai also runs the
Fidelity Select Communications Equipment (FSDCX) and
Fidelity Select Networking & Infrastructure (FNINX) portfolios as well.
Benjamin Hesse became sole manager of
Fidelity Select IT Services (FBSOX), which he had co-managed with Jim Morrow since March 2006, and Mayank Tandon assumed sole management of
Fidelity Select Software & Computer Services (FSCSX).
Completing Fidelity's January changes, Tobias Welo succeeded Christopher Bartel -- who will continue managing
Fidelity Select Industrial Equipment (FSCGX) -- as manager of
Fidelity Select Industrials (FCYIX). J. Justin Bennett took sole management of
Fidelity Select Paper & Forest Products (FSPFX), which he had managed with Bartel, and Lindsay Connor became sole manager of
Fidelity Select Transportation (FSRFX), also previously co-managed with Bartel.
Fidelity had a busy February as well. Its Fidelity Discovery fund was renamed
Fidelity Growth Discovery (FDSVX) and took on a new growth-oriented benchmark (Russell 3000 Growth Index). Jason Weiner left
Fidelity Independence (FDFFX) to manage Fidelity Growth Discovery.
Fidelity Trend (FTRNX) named Jeffrey Feingold as portfolio manager. Feingold, who replaced Ramin Arani, continues as co-manager of
Fidelity Global Balanced (FGBLX ) and
Fidelity Worldwide (FWWFX). Amin became co-manager of
Fidelity Puritan's (FPURX) equity portion.
Fidelity also named Christopher Lee and Paul Jackson co-managers of
Fidelity Select Electronics (FSELX), succeeding James Morrow, who continues to manage
Fidelity Advisor Diversified Stock Fund (FDTOX). Lee joined Fidelity as a semiconductor industry analyst in 2004, and Jackson, an analyst of global technology companies, joined the firm the following year.
Brian Younger and Richard Manuel took over
Fidelity Select Financial Services (FIDSX), replacing Charles Hebard, who remains manager of
Fidelity Blue Chip Value (FBCVX). Younger joined Fidelity in 1995 as an equity analyst. He has served as a manager for Select portfolios such as
Utilities Growth (FSUTX) and
Wireless (FWRLX) and will continue managing
Select Telecommunications (FSTCX).
Manuel joined Fidelity as an analyst of home finance companies in 2006 and remains manager of
Fidelity Select Home Finance (FSVLX).
Bahaa Fam began serving as sole manager of
Fidelity Advisor Large Cap Growth (FLUAX) and
Fidelity Advisor Mid Cap Growth (FGCAX) on Feb. 13.
At Prudential, David Green, who works for fund subadviser Hotchkis and Wiley, had a gratifying end of February. He replaced Joseph Huber in a co-manager position for the
Target Large Capitalization Value Fund (TALVX). Green was named co-manager of Prudential's
Target Growth Allocation (PHGAX),
Target Moderate Allocation (PAMGX),
Target Conservative Allocation (PCGAX) and
Strategic Partners Large Cap Value (PLVAX).
Jennison Associates, a wholly owned subsidiary of Prudential, tapped Shawn Hong and Ubong Edemeka as co-managers of
Jennison Equity Income A (SPQAX). Hong, VP and portfolio manager at Jennison, joined the company in September 2000. Edemeka, also a vice president, came aboard in March 2002.
Vanguard added Lazard Asset Management to the
Vanguard Windsor II fund (VWNFX) to manage a majority of the assets previously overseen by Equinox Capital Management and Tukman Capital Management.
Vanguard also added Jennison Associates to the advisory team of the
Vanguard Morgan Growth fund (VMRGX). Jennison will initially manage a relatively modest portion of the fund's assets and take a share of future cash flows. Kathleen A. McCarragher acts as portfolio manager.
Jay Leopold started as manager of the
Legg Mason Partners All Cap A fund (SPAAX). Leopold's tenure at Legg Mason dates back 20 years. He had served as co-manager of Legg Mason Capital Management's All Cap fund since 2002 and became sole manager in 2005. Prior to that, he was assistant portfolio manager of the firm's
American Leading Companies mutual fund (LMALX).
Legg Mason also appointed Aram E. Green and Jeffrey J. Russell as co-managers of the
Legg Mason Partners Small Cap Growth fund (SASMX) in February.
Trussco Capital Management
STI Classic Funds, managed by
Trussco Capital Management
, added managers to seven funds on Feb. 7. Brian Nold, co-manager of the
High Income (SAHIX), became co-manager of
Strategic Income (SAINX). Perry Troisi assumed sole management of
U.S. Government Securities (SCUSX) and
Limited Duration (SAMLX).
Adrien Webb, also a Trussco managing director since May 2004, became a co-manager of the
Intermediate Bond fund (IBASX),
Investment Grade fund (STIGX) and
Total Return Bond fund (CBPSX).
Jason Brady became manager of Thornburg's
Limited-Term Income fund (THIFX) and
Limited-Term U.S. Government fund (LTURX), as well as co-manager of its
Investment Income Builder fund (TIBAX). Brady, who joined Thornburg in October 2006, succeeded Steve Bohlin. He previously served as a portfolio manager with Fortis Investments and is known for his skills in the credit markets.
Morgan Stanley tapped Mark A. Bavoso to manage its
Natural Resources Development fund (NREAX).
Dryden Mid-Cap Value fund (SPRAX) added three co-managers in late January: Margaret Stumpp, John Leib and Deborah Woods.
Sean P. Fitzgibbon, a portfolio manager at
since December 2004, was named primary portfolio manager of
Mellon Large Cap Stock fund (MIISX) in February. Mellon also named Brian C. Ferguson as primary manager of its
Income Stock fund (MIISX). Ferguson has been a portfolio manager at Dreyfus since October 2002.
Patrick Shum was appointed co-manager of
AIM China fund (AACFX). Shum has been chief investment officer of INVESCO Hong Kong Limited since September 2006