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Fidelity Suffers Small Exit of Money from Stock Funds, Analyst Says.(Originated from The Boston Globe)
Knight Ridder/Tribune Business News, January, 1997 by Stein, Charles
Jan. 14--Investors keep pouring money into stock mutual funds, but Fidelity Investments isn't sharing in the wealth the way it once did.
According to Alpha Equity Research of Portsmouth, N.H., Fidelity actually experienced a small outflow of money from stock funds in December, a month that saw stock funds nationwide take in $13.5 billion.
It was the latest example of a trend that haunted the mutual fund giant all year. "Fidelity continues to lose substantial market share relative to the competition," said David O'Leary, president of Alpha Equity.
O'Leary estimates that Fidelity's share of new mutual fund money going into stocks fell from more than 15 percent in 1995 to less than 10 percent in 1996. In the second half of 1996,...
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