Fidelity has launched a new value mutual fund slated to invest primarily in small and mid-cap stocks, the Fidelity Advisor Value Fund.

Fido tapped Richard Fentin to oversee the new fund in addition to duties for the Fidelity Value Fund. Fentin has managed the value fund since 1996.

Fentin began his career at the companny in 1979. Two years later he became research assistant for Fidelity Magellan, the company's flagship fund. He went on to manage several portfolios including Fidelity Growth Company Fund and the Fidelity Puritan Fund. 

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