Fidelity Investments portfolio manager David Glancy
is planning to leave the firm. Word of Glancy's plans were first reported by Dow Jones Newswires, which cited "a person familiar with the matter."
The news service reports that Glancy left to pursue a "business opportunity" and it gave no word of Fidelity's plans to replace Glavin.
Glancy is a thirteen-year veteran at Fidelity and the portfolio manager for three funds with nearly $5 billion in assets. The largest of the funds is the Fidelity Capital & Income Fund
, which has year-to-date performance that puts it in the top two percent of its peer group, according to Morningstar.
He has also made his mark managing the $720 million Fidelity Leveraged Company Stock Fund
. That fund, which invests in the stocks of companies with high debt levels, has 53.9 percent year-to-date return placing it in the top one percent of all similar funds. He also manages the Advisor version of the fund.
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