Fidelity Investments portfolio manager Kyle Weaver will be joining current portfolio managers Joel Tillinghast and Daniel Dupont in managing Fidelity NorthStar Fund, effective Nov. 1, Toronto-based Fidelity Investments Canada ULC said Thursday.
The addition of Weaver continues the fund’s global “go anywhere” strategy while increasing investment style, geographic and sector diversification, Fidelity said in a release.
Weaver is a portfolio manager in the equity division at U.S.-based Fidelity Management and Research Company (FMR Co., Inc.). He currently manages Fidelity Advisor Growth Opportunities Fund, Fidelity VIP Growth Opportunities Portfolio and Fidelity Advisor Series Growth Opportunities Fund, available to U.S. investors.
Prior to his current responsibilities, he managed Fidelity Select IT Services Fund and Fidelity Select Wireless Fund, also available to U.S. investors, and was a research analyst covering various industries. He joined Fidelity in 2008 and has been in the financial industry since 2001.
“Weaver is a growth style manager who looks for companies with strong fundamentals and that are attractively valued based on a long-term investment horizon. He looks to take advantage of short-term market inefficiencies and generally focuses on companies that will benefit from long-term secular industry trends,” Fidelity says.
In addition, Fidelity Canada announced it will be lowering the risk ratings on six of its funds, effective Nov. 1. Full details are in the company’s news release.