Fidelity Investments has selected James Catudal to run the $6.24 billion Fidelity Growth and Income Portfolio Fund, succeeding Timothy M. Cohen.

Catudal will continue running the Fidelity Advisor Growth and Income, Fidelity VIP Growth and Income and Fidelity Stock Selector funds.

With the fund having lost half of is value in the past six months, the 11-year veteran of the firm will have a challenge ahead of him. The Fidelity Growth and Income Portfolio Fund declined 51% in value in 2008.

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