Fidelity has appointed three fund managers, P&I reports. It has hired Matthew Fruhan as portfolio manager of the $336 million Fidelity Mega Cap Stock Fund and John Sheehy to manage the $436 million Fidelity Select Defense and Aerospace Portfolio.

The investment firm has recruited John Mirshekari as portfolio manager of the Fidelity Select Air Transportation Portfolio. Fruhan has replaced Richard Mace and Mirshekari and Sheehy replace Maurice FitzMaurice who was portfolio manager of both the funds.

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