Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Fidelity hasn't posted the 9/6/13 distribution on the fund page, but looking at the historical data, FLPSX distributes most if not all its cap gains (as opposed to ordinary/qualified dividends) in September. Likely little in cap gains left for a December distribution.
I'm confident that FLPSX's low turnover (19%) has something to do with its absence of short term gains. Conversely, FOCPX's high turnover (149%) likely goes far in explaining the relatively high amount of short term gains (1/6 of all the cap gains distributed were short term).
But I'm left wondering about FDGFX. Its short term gains were the highest fraction of total cap gains (1/5), yet it sports a reasonably modest 63% turnover, and there was no management change (which could have explained a high turnover of the portfolio).
It's nice that Fidelity posts these breakdowns, so that one can ponder such minutiae.
Comments
I'm confident that FLPSX's low turnover (19%) has something to do with its absence of short term gains. Conversely, FOCPX's high turnover (149%) likely goes far in explaining the relatively high amount of short term gains (1/6 of all the cap gains distributed were short term).
But I'm left wondering about FDGFX. Its short term gains were the highest fraction of total cap gains (1/5), yet it sports a reasonably modest 63% turnover, and there was no management change (which could have explained a high turnover of the portfolio).
It's nice that Fidelity posts these breakdowns, so that one can ponder such minutiae.
Regards,
Ted
https://www.fidelity.com/mutual-funds/prices-documents/distributions
Regards,
Ted