Fidelity adds portfolio managers to two Equity-Income funds

By Toni Weeks

San Diego, Nov. 4 - Fidelity Equity-Income Fund and Fidelity Equity-Income II Fund announced changes to the portfolio management team for the funds, according to 497 filings with the Securities and Exchange Commission.

Scott Offen was named a portfolio manager for the Fidelity Equity-Income II Fund and the Class K Fidelity Equity-Income II Fund in October. Offen joined Fidelity in 1985 and has worked as a research analyst and portfolio manager since then.

James Morrow was named lead portfolio manager of the Fidelity Equity-Income Fund and the Class K Fidelity Equity-Income Fund, effective Nov. 4. Adam Kramer and Ramona Persaud were named co-managers of the fund. All have managed the fund since October.

Morrow has worked as a research analyst and portfolio manager since 1999, when he joined Fidelity Investments.

Kramer joined Fidelity in 2000 and has worked as a research analyst, portfolio assistant and portfolio manager since then.

Persaud joined Fidelity in 2003 and has worked as a research analyst and portfolio manager since then.

The investment firm is based in Boston.

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