{"id":484,"date":"2003-07-17T00:00:00","date_gmt":"2003-07-17T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"star-manager-leaves-fidelity","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2003\/star-manager-leaves-fidelity.html","title":{"rendered":"Star manager leaves Fidelity"},"content":{"rendered":"<p>Fidelity Investments lost one of its star fund managers this week when David Glancy left to launch a hedge fund.<\/p>\n<p>  Fidelity analysts said Glancy is leaving Fidelity on a high note, after the Leveraged Company Stock fund he manages gained 52.8 percent since Jan. 1 &#8211; making it one of the strongest mutual funds in  the country this year.<\/p>\n<p>  Glancy, who left Tuesday, also managed Fidelity&#8217;s Capital &amp; Income fund, which gained 28.5 percent for the year.<\/p>\n<p>  &#8220;There&#8217;s no doubt about the fact that Fidelity lost a stellar manager who knew how to outperform in two camps, equities and bonds,&#8221; said Jim Lowell, editor of the Fidelity Investor newsletter.  &#8220;Fidelity yet again has some egg on its face.&#8221;<\/p>\n<p>  Eric Kobren, executive editor of the Fidelity Insight newsletter, said Glancy will start a hedge fund with Richard Barrett, Fidelity&#8217;s former head of high-yield research.<\/p>\n<p>  &#8220;While Fidelity treats their fund managers and employees exceedingly well, there&#8217;s no denying the fact that the hedge fund business has exploded,&#8221; Kobren said. &#8220;People with good records and  confidence want to take a whack at running their own show.&#8221;<\/p>\n<p>  Mark Notkin will replace Glancy as manager of Capital &amp; Income, and Thomas Soviero will run Leveraged Company Stock.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fidelity Investments lost one of its star fund managers this week when David Glancy left to launch a hedge fund. Fidelity analysts said Glancy is leaving Fidelity on a high note, after the Leveraged Company Stock fund he manages gained [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-484","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=484"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/484\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}