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Fidelity to Launch Advisor-Sold Value Fund

Fidelity Equity Income II manager Steve DuFour will run the offering.

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Fidelity Equity-Income II (FEQTX) manager Stephen DuFour is getting some more work. Boston-based Fidelity Investments plans to put DuFour, who has been at the helm of Equity-Income II for one year, behind the wheel of a new value fund to be sold through financial advisors.

DuFour, who comanaged Fidelity Balanced (FBALX) before taking Bettina Doulton's place at Equity-Income II last year, will run the proposed Fidelity Advisor Equity Value, according to a filing with the Securities and Exchange Commission.

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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.