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Barron's Cover Story: Fidelity Is Thriving. Here’s What It Needs To Keep Thriving
FYI: Abigail Johnson wants to dispel a rumor on Wall Street that Fidelity would consider a merger with Goldman Sachs . “Absolutely not,” says Johnson, chairwoman and CEO of FMR, Fidelity’s parent company. Other fund companies may be joining forces—Invesco and OppenheimerFunds are negotiating a $5 billion merger. But Johnson says Fidelity is doing fine on its own. “I don’t get complaints from our shareholders about the way things are going.” Regards, Ted https://www.barrons.com/articles/fidelity-is-thriving-heres-what-it-needs-to-keep-thriving-1538786334?mod=djem_b_Weekly Feed for Barrons Magazine
@MFO Members: David Snowball comments contained in article.
" Fidelity’s outliers don’t make up for mediocre performance across its fund universe, says David Snowball, co-founder of the Mutual Fund Observer newsletter. According to data from Morningstar, he notes, only 53 of Fidelity’s 122 diversified U.S. equity funds (43%) produced above-average returns over the past 12 months. Just 7% beat their peers over the prior one- and three-year periods. The numbers don’t look much stronger for international equity, taxable bond, or municipal bond funds over the past year." Regards, Ted
Comments
" Fidelity’s outliers don’t make up for mediocre performance across its fund universe, says David Snowball, co-founder of the Mutual Fund Observer newsletter. According to data from Morningstar, he notes, only 53 of Fidelity’s 122 diversified U.S. equity funds (43%) produced above-average returns over the past 12 months. Just 7% beat their peers over the prior one- and three-year periods. The numbers don’t look much stronger for international equity, taxable bond, or municipal bond funds over the past year."
Regards,
Ted