Fidelity shuffles managers at its small cap funds

In a move that signals the start of a baton pass, Fidelity has appointed Clint Lawrence as co-manager with Derek Janssen of the firm's two funds that Mr. Janssen now solely manages: the Fidelity Small Cap Value Fund and the Fidelity Advisor Small Cap Value Fund. On its website, the firm said that Mr. Janssen, who also currently co-manages the Fidelity Small Cap Discovery Fund, will assume sole portfolio management responsibility for that fund at the end of the year when Charles Myers, who currently manages the fund, will step away from portfolio management. In other manager changes at fund companies, according to Mutual Fund Observer, David Coughenour and William Bannick are no longer are managing portfolios at AMG Chicago Equity Partners and AMG Managers Cadence funds, respectively. At Calvert, Thomas Seto assumed management responsibility at several large- and mid-cap funds from Dale Stout, Lise Bernhard and Laurie Webster. At Icon Advisers, Rob Young, Craig Callahan and Donovan Paul are no longer listed as portfolio managers for the firm's consumer staples, industrials and information technology funds. Scott Snyder, Zach Jonson and Derek Rollinson, respectively, are the new managers at those funds. And at Westcore, Craig Juran is no longer managing the firm's large-cap dividend, mid-cap growth and small-cap growth funds.