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Rating:Fido Plans Split of Fund Board in Two Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, October 11, 2007

Fido Plans Split of Fund Board in Two

by: Armie Margaret Lee

Fidelity plans to split the board that oversees its mutual funds in two, according to reports. The plan is to have one board oversee equity-focused funds and another to oversee bond and money-market funds, The Boston Globe reported. Fidelity executives characterized the move as an effort to better oversee complex securities. Fidelity spokesperson Anne Crowley told The Globe that the fund firm plans to seek approvals from investors for the new board posts by early next year.  

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