Portfolio managers Daniel Dupont and Don Newman will be taking on additional responsibilities, Fidelity Investments Canada ULC said Wednesday.
Effective immediately, Dupont will be assuming the role of co-portfolio manager of Fidelity NorthStar Fund. Also effective immediately, Newman will become lead portfolio manager of Fidelity Dividend Plus Fund. Dupont and Newman take over from current portfolio manager Cecilia Mo.
“Cecilia has made the personal decision to leave Fidelity and we wish her well,” says Andrew Marchese, head of Canadian equities, Fidelity Investments Canada. “While we are always sorry to see people leave, Fidelity devotes a tremendous amount of time and resources to recruiting and training the very best investment management talent. Both Dan and Don are very experienced investment professionals that possess outstanding track records of delivering strong risk-adjusted returns for clients.”
Dupont currently manages Fidelity Canadian Large Cap Fund as well as an equity sub-portfolio of Fidelity Monthly Income Fund and Fidelity Income Allocation Fund. Dupont joined Fidelity in 2001 as a research analyst. He has covered many sectors of the Canadian economy including consumer products, food and drug retailers, gold and Canadian banks. In 2007, he became an assistant portfolio manager on Fidelity Dividend Fund and in 2009 he began managing an equity sub-portfolio on Fidelity Monthly Income Fund and Fidelity Income Allocation Fund.
Newman currently manages an equity sub-portfolio of Fidelity Dividend Fund and Fidelity Canadian Asset Allocation Fund. He is also a member of the Fidelity Canadian Asset Allocation Team. Newman joined Fidelity in 2003 as a research analyst with Team Canada, covering insurance. He has also covered Canadian companies in integrated oil and gas as well as food, beverage, tobacco and drug retailers. Before working at Fidelity, Newman spent four years in the global investment research department at Goldman, Sachs & Co. in New York.
In addition, the equity sub-portfolios of Fidelity Monthly Income Fund, Fidelity Dividend Fund and Fidelity Income Allocation Fund, previously managed by Mo, will now be managed by Newman.
As well, Fidelity Greater Canada Fund will now be managed by Hugo Lavallée, who will continue to manage tFidelity Canadian Opportunities Fund as well as an equity sub-portfolio on Fidelity Canadian Asset Allocation Fund.
Working alongside Dupont on Fidelity NorthStar Fund will be Patrice Quirion as assistant portfolio manager. Quirion joined Fidelity in August 2005 as an equity research associate and was promoted to equity research analyst in December 2007. Over the past six years, as part of Fidelity’s Team Canada, he has covered the industrials, energy services, uranium, coal, pipeline and midstream sectors of the Canadian economy as well the Canadian banks and diversified financials.
“Patrice is a great example of Fidelity’s proven system of recruiting exceptionally talented people and immersing them in our rigorous training and mentoring system. This focus on the long-term development of Fidelity’s professionals has resulted in a very deep bench of talent,” says Marchese.
IE