Fidelity has named a portfolio manager to succeed Neal Miller at the $3.4 billion New Millennium Fund.

John Roth, a seven-year Fidelity veteran who has managed the Select Consumer Industries Fund, the Fidelity Advisor Consumer Industries Fund, and the VIP Consumer Industries Funds, will replace Miller at the end of June. Miller announced his retirement in April, after skippering New Millennium through its 14-year history.

The fund, currently closed to most new accounts, has fallen sharply since Miller's announcement, reports Reuters, stumbling along with the stock market.

Martin Zinny and Robert Lee will replace Roth at the helm of the Select Consumer Industries Portfolio.  

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