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Tuesday, October 27, 2009

Fidelity's Rakers Rakes in Big Gains

News summary by MFWire's editors

In Tuesday's Wall Street Journal Fund Track column, Jon Kamp features Fidelity veteran Larry Rakers, who took the helm of the Fidelity Dividend Growth Fund in September of last year. The $7.5 billon fund chalked up large gains in 2009 thanks to Rakes' bets on rebounds among financials and other sectors.

This year through Friday, the fund had trailing total returns of 45.8 percent, according to Morningstar data. That's more than double that of the S&P's return and nearly double the average return for the fund's large blend category. 

Edited by: Armie Margaret Lee


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