Young Chin, chief investment officer of Pyramis Global Advisors, a Fidelity Investments company, will assume leadership of the Pyramis global sector portfolio management team effective March 31, Toronto-based Fidelity Investments Canada ULC said Friday.
This team currently manages the Fidelity American Disciplined Equity Fund, Fidelity Growth America Fund, Fidelity Global Large Cap Fund, the U.S. subportfolios of Fidelity Global Disciplined Equity Fund and Fidelity Global Opportunities Fund, Fidelity U.S. Equity Investment Trust and Fidelity U.S. Small/Mid Cap Equity Investment Trust.
Chin assumes leadership from current team leader and portfolio manager, John Power who has decided to take some time away from the investment business to pursue other interests. Power will remain with the organization through March 31, to help ensure a smooth and effective transition.
The Pyramis global sector portfolio management team is comprised of seven sector portfolio managers who are responsible for individual stock buy and sell recommendations as well as industry bias. This team approach to investment management leverages the strengths of the global sector and research platform of Pyramis and Fidelity to deliver more investment opportunities for investors.
“While we are sorry to see John leave, investors will benefit from the long-term experience of Pyramis’ chief investment officer, Young Chin as team leader on these strategies. Young will be supported by the deep expertise of our global sector portfolio management team and our global research and risk management platforms,” says Rob Strickland, president, Fidelity Investments Canada.
Chin is a 33-year veteran of the investment management business. He joined Pyramis in 2006 and oversees the firm’s portfolio management, research, and trading functions. Pyramis, with approximately US166 billion in assets under management as of December 31, 2011, focuses on investment products and solutions for institutional and retail customers.
Previously, Chin served as president and CEO, Gartmore Global Investments, and co-global chief investment officer-equities, Gartmore Group, in Conshohocken, Penn. In these dual roles, he oversaw investment units in the U.S., the U.K, and Japan with assets of more than $80 billion.
The Pyramis global sector portfolio managers include: Thorsten Becker (financials), Andy Burzumato (consumer staples and utilities), Chad Colman (industrials), Arun Daniel (consumer discretionary), Jody Simes (energy and materials), Vince Rivers (telecom services and information technology), and Chandler Willett (health care).