Fidelity Investments, the biggest U.S.
mutual fund company, shifted the managers of 12 money market funds
for individual investors after 20-year veteran Bob Duby retired.
Duby, who joined Boston-based Fidelity in 1982, was in charge
of several money market funds for institutional investors when he
left the company at the end of September, spokesman John
Brockelman said. Fidelity asked Kim Miller and Robert Litterst to
take over his funds.
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That opened an opportunity for Fidelity to reassign managers
at the 12 money market funds for individual investors. Among the
changes, analyst Michael Widrig was asked to oversee five tax-
exempt money funds that had been run by Miller or Mike Marchese.
Marchese took over the $3 billion Spartan Municipal Money Market
Fund that had been run by Norm Lind.
Money market and bond fund managers work out of Fidelity’s
Merrimack, New Hampshire, office.
Fidelity oversaw $195 billion of money market funds at the
end of September. The company has been the biggest manager of such
funds by assets for over ten years, according to Peter Crane,
managing editor of iMoneyNet.
Bloomberg News
