U.S. Fidelity manager comes to Canada

Steve DuFour, one of Fidelity’s U.S. equity portfolio managers, will be assuming portfolio manager responsibilities for its Growth America Fund.

DuFour is DuFour currently manages a number of funds for U.S. investors, including the Fidelity Focused Stock Fund, and he’s taking over for Young Chin, who remains in his role as CIO for Pyramis Global Advisors.

This change will be effective on February 1, 2013, and the fund’s name will be to the Fidelity U.S. Focused Stock Fund. Its corresponding class version will be changed to the Fidelity U.S. Focused Stock Class.

However, the fund’s investment objectives will remain the same; it aims to achieve long-term capital growth by investing primarily in equity securities of U.S. companies.

Similar to the fund’s investment strategy, DuFour employs fundamental, bottom-up equity research in selecting investments. Going forward, he’ll invest in a more concentrated manner.

In November 2012, Fidelity also introduced a number of U.S. mutual funds. These included the Fidelity U.S. Monthly Income Fund, U.S. Dividend Fund, and a capital yield version of its U.S. Monthly Income Fund.

Read: Fidelity Clearing transitioning accounts from Penson

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.