Years ago, the Fidelity Magellan Fund was a mid-cap growth equity fund.
Fidelity had in recent years snagged market share from Wall Street giants like UBS and Morgan Stanley as investors flocked to more affordable, online-based services during the recession.
FORBES: Fidelity Falls in Customer Survey of Brokerage Houses
Bolton, who delivered annualized returns of 19.5% in his flagship Fidelity U.K. fund for an amazing 28 years, came out of a short retirement and moved to Hong Kong to start Fidelity China Special Situations, which began with 430 million pounds.
You could stuff five or ten years of charitable contributions into a charitable gift fund of the sort run by Fidelity, Schwab and Vanguard, claiming the writeoff against 2012 income and disbursing the donations in coming years.
Mark Mobius of Franklin Templeton and Anthony Bolton of Fidelity did not have their normal stellar years.
The brokerage arm of Fidelity Investments, the fund giant, three years ago extended its pre-open trading from 8 a.m. to 7 a.m.
Malabar's handsome 19.4% annualized return over the past ten years easily tops the best diversified international funds offered by Fidelity, Fortis, ABN Amro and other considerably larger competitors.
Spendthrift ways are unlikely to again become as pervasive as they were before the crisis, Fidelity Investments concluded Wednesday in releasing results of its "Five Years After" survey of nearly 1, 200 investors.
The sharp growth in recent years of donor-advised funds, through financial services organizations such as Fidelity and Vanguard, have made it easier, moreover, for those of relatively modest means to set aside tax-advantaged money for such purposes.
Fidelity Biosciences (disclosure: I spent some time there about eight years ago) and Aberdare Ventures also seem to have moved deliberately into the digital health and health services space.
FORBES: Life Science VCs: Definitively Indefinite About Digital Health
The episode is another blow for Fidelity, which has missed out on the ETF boom of the past several years.
Like its namesake navigator, the Fidelity Magellan fund has seen its share of glory, though for the past several years the once mighty mutual fund has been a study in mediocrity.
The two largest fund companies, Fidelity and Vanguard, must weaken their hold on the boards of funds they sponsor, despite years of successful results and no involvement in the scandals.
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