Renowned fund manager Alan Radlo has left Fidelity Investments Canada Ltd. after 17 years with the firm.

Radlo is being replaced on his mandates by a trio of Fidelity veterans. Bob Haber, Fidelity Canada’s chief investment officer has been named portfolio manager on the Canadian equity portion of Fidelity Canadian Asset Allocation Fund; Cecilia Mo replaces Radlo as co-portfolio manager on Fidelity NorthStar Fund, where she joins existing co-managers Joel Tillinghast and Chris Goudie; and Max Lemieux takes over as portfolio manager of Fidelity Canadian Growth Company Fund.

On Fidelity Canadian Asset Allocation Fund, Haber will adopt the portfolio management process presently used for Fidelity Canadian Disciplined Equity Fund. “Under Bob’s oversight, stock selection will be conducted by each of the 12 fundamental analysts within their assigned sectors,” the firm notes. There are no other changes to the fund, it adds, the Canadian Asset Allocation Team remains intact, and David Prothro will continue to manage the fixed-income sub-portfolio.

As for Fidelity NorthStar Fund, the firm notes that Mo, “is well known for her strong performance on the Fidelity Income Trust Fund, and the income trust sub-portfolios of the Fidelity Monthly Income Fund, Fidelity Monthly High Income Fund, and the Fidelity Dividend Fund”. She joins Tillinghast, who has co-managed the fund since inception, and Goudie, who handles an international portion of the fund. “We are confident that these managers will provide continuity to this fund,” it adds.

Fidelity says Lemieux, who now runs Fidelity Canadian Growth Company Fund, has been a protégé of Radlo on its Canadian portfolio management team for nearly 10 years, “and has developed an investment management style that is very similar to that of Alan”.

“Maxime has extensive knowledge of and experience with the Canadian small- and mid-capitalization markets, having managed the Fidelity Canadian Opportunities Fund since inception, and prior to that, having worked as an associate portfolio manager together with Alan on this fund,” it says. “Maxime will maintain his Canadian Opportunities Fund mandate, with the assistance of new co-portfolio manager Hugo Lavallée.”

The departing Radlo was responsible for more than $9.6 billion in assets within the three funds he worked on. He joined Fidelity as a portfolio manager in 1985.