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Larry Rakers is a Vice President and Portfolio Manager for Fidelity Investments, the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans and a leading online brokerage firm. He manages Fidelity Balanced Fund, Fidelity Advisor Balanced Fund and VIP: Balanced Portfolio.

Rakers joined Fidelity as an equity research analyst in 1993, and followed the restaurant, precious metals and coal industries. Rakers managed Fidelity Select Gold Portfolio from 1995 to 1997 and managed Fidelity Select Precious Metals and Minerals Portfolio and Fidelity Select Paper and Forest Products Portfolio from 1996 to 1997. He managed Fidelity Select Energy Portfolio, Fidelity Select Natural Resources Portfolio and Fidelity Advisor Natural Resources Fund, and served as sector leader of Fidelity's natural resources equity research group from 1997 to 1999. Rakers managed Fidelity Select Computers Portfolio and Fidelity Advisor Technology Portfolio from January 2000 and Fidelity Select Technology Portfolio from February 2000 until June 2001. He was also technology sector leader from January 2000 to June 2001. Rakers also managed Fidelity Convertible Securities Fund from June 2001 until February 2002, when he assumed management responsibility for Fidelity Balanced Fund. He began managing Fidelity Advisor Balanced Fund and VIP: Balanced Portfolio in June 2005.

Before joining Fidelity, Rakers was a project engineer for Loral Corporation in Lexington, Massachusetts, from 1986 to 1993.

Rakers received bachelor of science and master of science degrees in metallurgical engineering from the University of Illinois in 1985 and 1987 respectively. He also received an MBA from Northeastern University in 1993.