MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, June 13, 2012 Fido PMs "All Live in Glass Houses" For Fidelity's [profile] stock fund PMs, "there is no such thing as tenure," according to equity division president Brian Hogan. Tim McLaughlin of Reuters interviewed Hogan about his efforts to turn around the Boston-based mutual fund giant's stock mutual fund performance since taking over in 2009. Although Fidelity's stock funds have performed well year-to-date, Hogan is not yet ready to declare victory. "Turnaround is not the word I would use," Hogan told Reuters. "That would suggest we are done showing improvement." As a key part of his strategy, Hogan has replaced underperforming PMs, even veteran ones. "There is no such thing as tenure here," Hogan said. "It's a meritocracy. We all live in glass houses." The wire service also talked to Magellan Fund PM Jeff Feingold, New Millennium Fund PM John Roth, equities division chief investment officer Bruce Herring, and Morningstar fund analyst Christopher Davis. Printed from: MFWire.com/story.asp?s=40298 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |