Fidelity Manager Announces Retirement
After more than 20 years at Fidelity, high-yield bond fund manager Matt Conti has announced his plans to retire at the end of 2018. Conti manages or co-manages a handful of Fidelity’s bond funds, including the $32 billion Total Bond fund, where he is the second-longest tenured manager. He has been managing Focused High Income since 2004. To provide a smooth transition leading up to and following Conti’s retirement, Mike Weaver has been appointed to co-manage Advisor High Income, VIP High Income Portfolio, Fidelity and Fidelity Advisor Total Bond and High Income Central Fund. Conti will continue to co-manage the funds until his last day at the end of December. We don’t anticipate any changes in how the portfolios are managed leading up to or following Conti’s departure. Weaver’s investment style is very similar to Conti’s, and relies on the same high-yield research. Weaver utilizes bottom-up…
