The Boston Globe
's Steve Syre
took a look at the performance of Fidelity's fund family in his column Tuesday. Syre says that almost all of Fidelity's funds, especially the bigger ones have had a rough year performance-wise. He points to the Magellan Fund
, which had lost 47.3 percent of its value for 2008 at the end of last week. The S&P 500, Magellan's primary benchmark lost 37.7 percent during the same period.
There are also some Fidelity funds that performed at or above par, Syre says the Contrafund
, Fidelity's largest, and the Blue Chip Growth
fund both lost less ground than the S&P 500.
Fidelity spokesman Vin Loporchio reminded Syre that performance in the fund industry is measured over the long haul. He said Fidelity's funds outperform their peers over longer periods.
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