Fidelity Shuffles Small Fund Deck

January 3, 2003 ( - Fidelity Investments has announced a series of management changes in several smaller mutual funds, according to a company press release.

Effective January 1, 2003 Kelly Cardwell, giving up his previous assignment as manager of the $22.3 million Fidelity Select Automotive Portfolio, was named the new manager of the $574 million Fidelity Select Software and Computer Services Portfolio, succeeding Christian Zann.   The move cleared the way for Robert Bao to assume Cardwell’s previous management assignment.

Also, George Fischer will be doubling his fun after being dubbed manager of the $3.2 billion Fidelity Government Income Fund and the $1.2 billion Spartan Government Income Fund, succeeding Thomas Silvia, who will remain with the firm as the manager at other unnamed bond funds.

One of the biggest movers, Pratima Abichandani, has been tapped to manage the trio of the $191 million Fidelity Select Energy Natural Resources Portfolio, the $24.5 million Fidelity Advisor Natural Resources Fund and the $20 million VIP Natural Resources Portfolio, succeeding John Porter.   Porter however will retain management of the Fidelity Advisor Dynamic Capital Appreciation Fund.

Kevin Grant will add an extra feather in his management cap, that currently includes the Fidelity Investment Grade Bond Fund and several other bond portfolios that he has managed for several years, as he has been named portfolio manager of Fidelity Advisor Intermediate Bond Fund, succeeding Andrew Dudley. Dudley will remain the manager of several unidentified bond funds.

Douglas McGinley has been named to head the $1.7 billion Spartan Intermediate Municipal Income Fund, succeeding Christine Thompson. McGinley will also continue to manage Spartan California Municipal Income Fund, and three other municipal income funds, all of which he has managed since June 2002.

Thompson, who was also succeeded by Mark Sommer as portfolio manager of the $1.6 billion Spartan Short-Intermediate Municipal Income Fund will continue her management tenure for other undisclosed funds.