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 |
|
Thursday, June 3, 2004 No More Room at Fido Fund Investors can't get enough of Fidelity's Low-Priced Stock Fund. The firm will shut out all new investors, retirement plan participants and otherwise, after July 30, according to a Wednesday SEC filing. Although the fund was closed on December 31 to new investors, new retirement plan participants and investors buying through registered investment advisors with $500 million in assets or more and fund in their discretionary account program were still allowed to invest. To invest in the fund prior to the July 30 deadline, plan participants must have had the Low-Priced Stock Fund as an investment option, or in the process of being added as an option, prior to December 31 of last year. After July 30, only existing investors can invest more into the fund. The fund had $29.7 billion in assets as of June 2. Fidelity has closed the fund on four occasions in the past -- from March 1992 to May 1992, from February 1993 to September 1993, from April 1998 to March 1999, and from May 2002 to November 2002. Printed from: MFWire.com/story.asp?s=7331 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |