Jurrien Timmer will relinquish his portfolio management responsibilities on Fidelity Tactical Strategies Fund to focus on developing macro-economic, technical and quantitative analysis to support Fidelity’s overall global asset allocation research effort, effective May 1, Toronto-based Fidelity Investments Canada ULC said Thursday.

Concurrent with this change, Fidelity Canada is pleased to announce that, effective May 1, experienced Fidelity portfolio managers Christopher (Chris) Sharpe and Ruben Calderon will be assuming portfolio management responsibilities for Fidelity Tactical Strategies Fund from Timmer and current co-portfolio manager Andrew Dierdorf.

Timmer will continue in his role as director of global macro for Fidelity’s Global Asset Allocation division, which manages approximately $520 billion in assets. Along with his work on portfolio analysis and investment strategies, Timmer will continue to help develop and deliver Fidelity’s message on timely global economic and market issues, both to clients and news media. Timmer is a regular commentator on numerous news programs as well as in leading news publications around the world.

Canadian investors will recognize Chris Sharpe as he has previously managed a number of Fidelity Canada’s asset allocation products. He joined Fidelity in 2002 as an asset allocation director and was promoted to portfolio manager in 2005. He also manages a number of funds available to U.S. investors.

Ruben Calderon joined Fidelity in 1995 as a Latin American technical analyst. Over the years, he expanded his responsibilities to include managing asset allocation strategies including Fidelity Global Balanced Fund available to U.S. investors in 2005. Prior to joining Fidelity, Ruben was with the Bank Credit Analyst Research Group in Montreal, Quebec.

Andrew Dierdorf, who has been a part of Fidelity’s target date investment team for nearly 10 years, will continue as lead portfolio manager for Fidelity’s $223.6 billion target date portfolios in Canada and U.S.