Fund manager drops strategies to run global sector unit.
NEW YORK: Fidelity portfolio manager Katherine Shaw is coming off two funds at the firm to focus solely on her role as leader of its global consumer sector team.
According to filings with the Securities and Exchange Commission (SEC), Shaw will come off the $379.7m Fidelity Advisor Consumer Discretionary fund and the $376.4m Fidelity Select Consumer Discretionary fund on September 30.
Jordan Michaels has been added to the funds, which are US-domiciled, effective immediately and will assume sole management responsibility for them once Shaw steps back.
Shaw will also come off the Fidelity US Equity Central fund and the VIP Stock Selector All Cap portfolio, on which she managed consumer discretionary sleeves.
Effective immediately, Nicola Stafford has expanded her portfolio management responsibilities to assume responsibility for the consumer discretionary sleeves of these funds.
‘Katie Shaw will come off her current portfolio management responsibilities to solely focus on her role as global consumer sector leader.
‘We are grateful for Katie’s many contributions as a portfolio manager and are excited for her to continue providing outstanding research coverage on the consumer discretionary sector,’ said a spokesperson for Fidelity, who confirmed that Shaw will remain with the firm.
Shaw has managed the Consumer Discretionary fund since 2017 and joined Fidelity in 2007.
This article originally appeared as part of the Fund Files article on Citywire Pro Buyer.
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