Fidelity Investments Canada ULC announced Wednesday that Team Canada, one of the largest buy-side teams dedicated to researching and analyzing Canadian equities, is coming home.

Founded in Boston in 1997, Fidelity’s Team Canada is made up of 25 portfolio managers and research analysts who manage funds including Fidelity True North, Fidelity Canadian Disciplined Equity Fund and Fidelity Canadian Balanced Fund.

“The new Canadian offices are just the latest of several new Fidelity offices around the world and are one more sign of Fidelity’s long-term commitment to the Canadian market,” said Rob Strickland, president, Fidelity Canada.

Fidelity Canada also announced Andrew Marchese will be succeeding Bob Haber to provide investment leadership for Team Canada. Marchese is currently portfolio manager on a number of mandates for Canadian clients, including equity investment pools for Fidelity Canada’s new Private Investment Program. Along with his investment management responsibilities, he is also continuing as director of research, where he has played a pivotal role in developing and mentoring research analysts in the team.

“I’ve worked with Andrew for over 10 years, first as a research analyst and most recently as a fellow fund manager and Director of Research. Andrew epitomizes what it takes to be a member of Team Canada, which I have often called the hardest club in Canada to join,” said Haber.

Haber has decided to remain in Boston and will be taking a step back from active daily management later this month.

Haber is working closely with Team Canada portfolio managers, analysts and clients to ensure a seamless transition. Over the coming weeks Haber’s current fund assignments will be transitioned to experienced Fidelity portfolio managers.

“Bob Haber played a key role in helping build Fidelity Canada into the success that it is today. I thank Bob for his tireless efforts, working with all our clients and leading Team Canada for over a decade,” said Strickland.

Haber is chief investment officer and portfolio manager for Fidelity Canada. He is lead portfolio manager for Fidelity Canadian Balanced Fund and the Canadian equity sub-portfolio manager for Fidelity Canadian Asset Allocation Fund. He is also portfolio manager for Fidelity Canadian Disciplined Equity Fund and Fidelity American Opportunities Fund. In October 2008, Haber assumed portfolio management responsibilities for the U.S. equity sub-portfolio of Fidelity Global Fund and joined the global equity allocation team responsible for making regional allocations within Fidelity Global Fund.

Marchese is a portfolio manager and the director of research specializing in Canadian products for Pyramis Canada ULC, a Fidelity Investments company.

He joined Fidelity in 1998 as an equity research associate and was promoted to equity research analyst in 2000. During his research tenure, he covered the financial, consumer discretionary, materials, technology and health care sectors for Team Canada. During this time, Marchese also managed the same sectors for Fidelity Canadian Disciplined Equity Fund. In 2005, he was promoted to portfolio manager of Pyramis Canadian Systematic Equity Portfolio. In 2007, he was appointed director of research for Team Canada, in addition to his portfolio management duties, which include the management of several Canadian equity subportfolios for Fidelity International.

Marchese received a BSc in pharmacy from the University of Toronto in 1994 and an MBA from the Richard Ivey School of Business at the University of Western Ontario in 1998.

For a complete run down of fund transitions, please see the attached list.
IE