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Rating:Columnist Gives Fido's 2008 Report Card a Once Over Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 14, 2008

Columnist Gives Fido's 2008 Report Card a Once Over

by: Erin Kello

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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