David Wolf, a former policy advisor to the Governor of the Bank of Canada, is now on the Fidelity Canadian Asset Allocation portfolio management team.

Wolf will work with portfolio managers Geoff Stein and Derek Young to manage the Fidelity Canadian Asset Allocation Fund, Fidelity Monthly Income Fund, Fidelity Monthly Income Class, Fidelity Dividend Fund and Fidelity Income Allocation Fund. Stein continues as lead portfolio manager on these funds.

Read: Floating-rate debt suits a rising-rate environment

Wolf joined the Fidelity Investments organization in September 2013. From 2009 to 2013, Wolf was adviser to the Governor of the Bank of Canada, and served as secretary to the Governing Council for Monetary Policy at the Bank of Canada. As secretary he oversaw the analysis supporting monetary policy decisions and acted as editor-in-chief of the Monetary Policy Report. He also served as a representative of the Bank of Canada on a number of international bodies, including the G-20, the IMF and the OECD.

Read: Canada’s top funds are…

Wolf was head of Canadian economics and chief strategist for Merrill Lynch Canada, from 2005 to 2009, where he was responsible for fundamental analysis and asset allocation strategy.

Wolf takes over as Derek Young leaves his role as PM at the end of the month. Young will still be president of Fidelity’s Global Asset Allocation division. Fidelity’s Global Asset Allocation division manages close to $500 billion worldwide, including over $40 billion of Fidelity’s Canada’s asset allocation strategies.

Read: Fidelity will list U.S. tax info for its funds

Originally published on

Add a comment

You must be logged in to comment.

Register on