FIDELITY ON THE ROAD THE MUTUAL FUND COMPANY'S TROUPE HITS CHICAGO, HOPING TO SMOOTH OVER THE LACKLUSTER PERFORMANCE OF SOME OF ITS STARS NORTH SPORTS FINAL, N Edition

Magellan, Fidelity's flagship and the world's largest fund, tanked; two-thirds of the firm's diversified equity fund managers jumped ship or were transferred; half of the company's largest funds failed to match the average return achieved by similar funds; and archrival Vanguard...

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Bibliographic Details
Published inChicago tribune (1963)
Main Author John Schmeltzer, Tribune Staff Writer. Contributing to this story were Tribune staff writers Kathy Bergen and Rich Lorenz
Format Newspaper Article
LanguageEnglish
Published Chicago, Ill Tribune Publishing Company, LLC 29.01.1997
Subjects
CONSUMER ISSUES
Investments
Mutual funds
Return on investment
US
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Summary:Magellan, Fidelity's flagship and the world's largest fund, tanked; two-thirds of the firm's diversified equity fund managers jumped ship or were transferred; half of the company's largest funds failed to match the average return achieved by similar funds; and archrival Vanguard Group became the fastest-growing mutual fund company. The 90-minute presentation was the next-to-last of six stops Fidelity has been making for investors across the country in an unprecedented "road show" to calm the nerves of jittery investors. On Thursday, a final presentation is scheduled in Boston, just blocks from Fidelity's headquarters. But executives led by J. Gary Burkhead, president of FMR Corp.'s Fidelity Management & Research Co., which oversees Fidelity Investments' 249 mutual funds, and Paul Hondros, president of Fidelity Investments Individual Investor Group, offered few answers to Chicago investors for the troubles that have beset Fidelity's mutual funds.
ISSN:1085-6706