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Fidelity Shuffles Its Select Deck Again

Changes include new managers for Biotech and Telecom funds.

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Fidelity Investments shuffled the management of its sector funds again Thursday. Six funds got new leaders in this round of musical managers including the firm's huge telecommunications and biotechnology funds.

Fidelity moved Select Insurance (FSPCX) manager Timothy M. Cohen to the helm of the $1.4 billion Fidelity Select Telecommunications Fund (FSTCX). Cohen also will take over Fidelity Advisor Telecommunications & Utilities Growth Fund (FUGAX) and Fidelity Utilities Fund (FIUIX).

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Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.