Fidelity Revamps Equity-Income Funds
European-stock funds come out winners this month, and more.
Fidelity is overhauling its equity-income funds in an attempt to boost income. The firm is giving new managers, new mandates, and a more distinctive look to Fidelity Equity-Income (FEQIX) and Fidelity Equity-Income II (FEQTX).
Stephen Petersen, who managed Fidelity Equity-Income for more than 18 years, is being replaced by a three-manager team of James Morrow, Adam Kramer, and Ramona Persaud. Morrow will serve as lead manager, with Kramer running a high-yield and convertible sleeve and Persaud running a global equity sleeve.
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