Meet the Investment Team

Strategic Advisers LLC

Strategic Advisers LLC (Strategic Advisers), a registered investment adviser and a Fidelity Investments company, provides day-to-day discretionary portfolio management as sub-adviser of Fidelity Equity-Income Strategy accounts, including investment selection and trade execution. Strategic Advisers has retained Fidelity Management & Research Company LLC (FMRCo) as the model portfolio provider. FMRCo taps a tenured equity income investment team to actively research and evaluate stocks to select positions for the model portfolios. The team benefits from Fidelity's rich history of managing equity strategies for over 70 years and the experience of its 350+ dedicated equity investment professionals.1

Elizabeth Johnson


Liz Johnson manages the Fidelity Equity-Income Strategy and oversees its adherence to its investment mandate and objective. As a group leader at Strategic Advisers, she leads the Separately Managed Account (SMA) Investment Management team. This team is responsible for all aspects of the strategy and management of Strategic Adviser's separately managed account business, which includes equity and bond SMAs held in taxable and retirement accounts. She also manages customized, tax-sensitive portfolios and separately managed accounts for individual clients and trusts. 
Prior to assuming her current role, Ms. Johnson served as group leader in investment management. Before joining Fidelity in 2010, she held a variety of roles with Independence Investments LLC. She has been in the financial industry since 1994. Ms. Johnson received a bachelor of arts in economics and international relations from Boston University. She holds the Financial Industry Regulatory Authority (FINRA) Series 65 registration.

Matthew W. Fruhan


Matt Fruhan is the lead underlying model manager for Fidelity Equity-Income Strategy and is also an underlying model manager for Fidelity U.S. Large Cap Equity Strategy. As portfolio manager in the Equity division at Fidelity Investments, Mr. Fruhan manages several large cap funds, including Fidelity Growth & Income Portfolio, Fidelity Large Cap Stock Fund, and Fidelity Mega Cap Stock Fund.
Prior to his current  responsibilities, Mr. Fruhan managed several sector funds, including Financial Services and Industrials. He has been in the investment industry since joining Fidelity in 1995. Mr. Fruhan earned his bachelor of arts degree, cum laude, in economics from Harvard College and his master of business administration degree from Harvard Business School.

Naveed Rahman

  • Institutional Portfolio Manager, FMRCo

Naveed Rahman is an underlying model co-manager for Fidelity Equity-Income Strategy. As an institutional portfolio manager at Fidelity Investments, he serves as portfolio manager on several income-oriented and value-equity separately managed accounts, and is a principal liaison for portfolio management to a broad range of current and prospective clients and internal partners. Mr. Rahman's focus is on value and income equity. He is a member of the investment management team, maintaining a deep knowledge of portfolio philosophy, process, and construction, assisting portfolio managers and their CIOs in ensuring portfolios are managed in accordance with client expectations, as well as contributing to investment thought leadership in support of the team.

Prior to assuming his current role in December 2011, Mr. Rahman worked as a vice president at Fidelity from 2005 to 2011. He has been in the financial industry since 1996. Mr. Rahman earned his bachelor of arts degree in ethics, politics, and economics from Yale College, where he graduated Phi Beta Kappa, and his master of business administration degree from Stanford University's Graduate School of Business.

Anastasia Zabolotnikova, CFA


Anastasia Zabolotnikova is an underlying model co-manager for Fidelity Equity-Income Strategy. As a quantitative analyst in the Equity division at Fidelity Investments, she is embedded within the Value & Income teams, and is responsible for assisting with portfolio construction, risk management, and alpha research using quantitative tools. Additionally, she co-manages Fidelity Blue Chip Value ETF and several equity separately managed accounts (SMAs).
Prior to assuming her current position in 2012, Ms. Zabolotnikova was a quantitative analyst intern. Before joining Fidelity, she worked as an investment associate within Putnam Investment's Global Asset Allocation group. She has been in the financial industry since 2006. Ms. Zabolotnikova earned her bachelor of science degree in economics from Moscow State University, her master of arts degree in economics from Northeastern University, and her master of business administration degree in analytical finance from the University of Chicago's Booth School of Business. She is a CFA® charterholder.2