] non-U.S. business "seems to be struggling to find a sense of direction," even as its original business here in the US of A stays strong. That's the conclusion of a pair of new Financial Times
articles on the Boston Behemoth, two weeks after Fido inked a deal to sell off its Indian mutual fund arm [see MFWire.com, 3/28/2012
Dan McCrum sang
praises of the U.S. mutual fund titan, noting the 13 percent rise in Fidelity's 2011 operating profits and the best-in-class-for-the-decade performance of the mammoth Contrafund
, while worrying about average performance overall and the "question of leadership succession."
Kate Burgress, meanwhile, took a more concerned tone in her look
at Fidelity Worldwide Investment, which manages $212 billion to the U.S. business' $1.46 trillion. Mark Dampier of Hargreaves Lansdown offered the quote about Fidelity Worldwide struggling (cited at the beginning of this MFWire.com
article). The FT
also cites anonymous sources' speculation that Thomas Balk
"is being lined up to step into the shoes of Barry Bateman
, aged 68, vice chairman." The article offers a glimpse at Fidelity Worldwide's recent history.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now