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TiE Boston Charter Members
Arvind Navaratnam
Special Situations
Fidelity Investments
When Citywire profiled Navaratnam in 2017, he was a rising star in the industry, managing the fund on his own at just 34 years old. He joined Fidelity in 2010, and has managed the Event Driven Opportunities fund since its inception. After pitching the idea and running a successful test fund, he convinced Fidelity to launch the strategy, which identified stocks that are mispriced due to corporate actions, such as spinoffs, bankruptcy or management change. Since that profile, the fund has shrunk in size, from $345 million in April 2017, to $119.5 million today. The plans to merge away the strategy follow a mixed period of performance for the fund, which posted impressive numbers in 2016 and 2017, returning 19.96% and 18.63% respectively, but suffered badly in 2018 when it posted a loss of -19.16%.
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