Douglas C. Simmons is a portfolio manager at Fidelity Investments Asset Management. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to more than 20 million individuals, institutions and financial intermediaries. In this role, he is responsible for managing $5.8 billion in assets under management within the utilities and telecommunications sectors, including Fidelity Select Utilities Portfolio, and Fidelity Telecom and Utilities Fund. Prior to assuming his current role in September 2005, Mr. Simmons served as a utilities analyst covering the electric and gas utility stocks at Fidelity Management & Research Company — FMRCo — from 2003 to 2005. Before joining Fidelity in 2003, he worked as a financial analyst at the private equity firm Hicks, Muse, Tate & Furst from 1999 to 2001 and as an investment banking analyst at Morgan Stanley from 1997 to 1999. He has been in the investments industry since 1997. Mr. Simmons earned his bachelor’s of business administration degree in finance from The University of Texas at Austin, graduating with highest honors, and his Master of Business Administration from Harvard Business School.