Fidelity adds manager to help Danoff on $23 billion fund
BOSTON, Sept 17
BOSTON, Sept 17 (Reuters) - Fidelity Investments' star stockpicker Will Danoff is getting some help.
Boston-based Fidelity on Tuesday named John Roth as co-portfolio manager of the $23 billion Fidelity Advisor New Insights Fund which Danoff has managed since its inception in 2003.
Danoff "feels it is the right time to bring a co-manager onto the fund, adding a proven and experienced resource to help generate new ideas for the fund and monitor existing positions," Fidelity said in a statement.
Roth will continue to manage two other funds, Fidelity New Millennium and Fidelity Mid-Cap Stock., the company said.
Danoff is best known as portfolio manager of Fidelity's $97 billion Contrafund, which he will also continue to manage.
New Insights has a wide mandate to invest in "companies whose value FMR (Fidelity) believes is not fully recognized by the public," including both U.S. and foreign stocks, according to a company fact sheet.
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