Fidelity Investments, the nation's third-largest mutual fund complex, has embarked on a hiring initiative that would create career stock-analyst posts to oversee its research department.

For the first time, the Boston fund shop will look outside the firm to hire permanent managers to supervise the team of stock analysts managing its sector funds, the report said. In the past, managers would serve in that role for 12 to 18 months. The idea is to provide fund managers with more in-depth, broader coverage, Robert Reynolds, vice chairman of Fidelity, told The Wall Street Journal last week.

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