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Fund Times

Fund Times: Several Fidelity Manager Changes

Plus, news on the new Marsico fund, BlackRock's muni-fund fee hikes, and more.

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In another round of manager changes, all of which took effect on Oct. 2, 2006, Fidelity Investments announced many shifts in responsibility. Darren Maupin, portfolio manager of  Fidelity Europe Capital Appreciation (FECAX) and Fidelity Advisor Europe Capital Appreciation (FAEAX), will take on responsibility for  Fidelity Aggressive International (FIVFX),  Fidelity Advisor International Capital Appreciation (FCPAX), and VIP International Capital Appreciation Portfolio, replacing a multiperson team that had been in charge here. Maupin will also join Victor Thay in running Fidelity Advisor Global Capital Appreciation (FGEAX), replacing a management team that included William Bower of  Fidelity Diversified International (FDIVX) and Harry Lange, who runs  Fidelity Magellan (FMAGX).

While Maupin has had a good deal of success so far in his brief stint at Europe Capital Appreciation, and we like that he follows a bolder approach than his predecessor did there, both he and Thay are largely unproven. We are glad, however, to see Bower and Lange freed of the Advisor Global Capital Appreciation responsibility, which will allow them to focus on their primary charges.

Lawrence Jones does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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