Fidelity appoints portfolio manager

Toronto-based Fidelity Investments Canada ULC has appointed Steve DuFour, U.S. equities portfolio manager with Fidelity, to assume portfolio-management responsibilities for Fidelity Growth America Fund. DuFour will take over responsibilities from Young Chin, who remains in his role as chief investment officer for Toronto-based Pyramis Global Advisors LLC. The fund’s investment objectives remain the same under DuFour – to achieve long-term capital growth by investing primarily in equities issued by U.S. companies. DuFour will employ fundamental, bottom-up research in selecting investments, which is similar to the fund’s current investment strategy. DuFour will seek to meet the fund’s investment objective by investing in a more concentrated manner than previously. In addition, the fund’s name will be changed to Fidelity U.S. Focused Stock Fund, and its corresponding class version will be changed to Fidelity U.S. Focused Stock Class.

(cohara@investmentexecutive.com).