* Jacques Perold named to new post overseeing investments

* Will report to current head of asset management Wilens

* Fidelity alum Perold marks inside pick (Adds background, statements, analyst comment)

BOSTON, May 21 (Reuters) - Fidelity Investments on Thursday named Jacques Perold to the new position of chief operating officer of asset management, tapping an insider to run investments at the world's largest mutual fund company.

Perold has been president of Fidelity spinoff Geode Capital Management and will oversee day-to-day management of Fidelity's investment operations including its core mutual funds unit, Fidelity Management & Research Co., which is still coming off some rocky performance in 2008.

Perold will report to Fidelity's current head of asset management, Michael Wilens. Perold also will oversee money-management divisions including Pyramis Global Advisors institutional business and its Strategic Advisors investment advisor unit.

Reuters had previously reported Fidelity was seeking a senior investment officer.[ID:nN18367663] Though some of the company's best-known funds including its flagship Magellan fund have done well as markets have recovered this year, others including Contrafund lag and the company's performance slipped badly in 2008 even in comparison to other fund firms.

Only 36 percent of Fidelity funds were in the top half of their categories according to data from Morningstar Inc, though fund performance is much stronger in 2009 so far.

John Bonnanzio, editor of the Fidelity Insight investor newsletter, said that in appointing Perold, "They're trying to address a problem in the way they run their portfolios."