Fidelity has announced that Neal Miller, manager of its $3.7 billion New Millennium Fund, will retire at the end of June.

Miller has run New Millennium since its inception in 1992. According to Reuters, a new manager for the fund, which has been closed to new investors since 1996, will be chosen within a few weeks.

Morningstar notes that Miller was a highly successful manager and something of an anomaly at Fidelity, both in his investment strategies and in that he was hired from outside the firm to run the New Millennium Fund. 

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