MutualFundWire.com: June 13, 2000

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Tuesday, June 13, 2000

June 13, 2000

Fidelity raises cash
From The Boston Globe
Fidelity responded to the market downturn in March by moving to cash, according to a report in the Globe. The largest move was made by the Fidelity Fifty fund which raised its cash position to 12.8 percent from 1.5 percent of assets. However, the move was not firm-wide. Magellan's position was unchanged at 1.8 percent of assets, Growth Company shed cash, and Contrafund moved to a barbell with both more cash and more tech stock holdings.

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