Fidelity Closes Fund
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Tuesday, December 23, 2003

Fidelity Closes Fund

The Fidelity Low-Priced Stock Fund is really popular.

According to the Boston Business Journal, since last year, the fund has taken inflows of $25 million and has already been closed to investors once before in May 2002.

Fidelity said it is closing the fund to new investors to prevent its size from becoming too large for its manager, Joel Tillinghast, to invest.

Overall, the fund has been peforming well compared to other funds in its sector. Returns have beat 97 percent of similar funds, gaining an average of 16 percent a year over the past five years, according to Bloomberg News.

Current investors will be allowed to continue to add to the fund. Fidelity doesn't have plans to reopen the fund in the near future.

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