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Article: Study of life-cycle funds slams Fidelity offerings; But company complains research compares `apples to oranges'.(News)
- Article from:
- Investment News
- Article date:
- April 25, 2005
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Rick Miller
CHICAGO - A recent analysis of life-cycle funds that highlights their overall lackluster performance found that the industry leader, Fidelity Investments in Boston, is among the worst in the category.
"Fidelity stinks up the whole study. They are amazingly bad,'' said Keith Shadrick, president of Axia Advisory Corp., an Indianapolis plan-consulting firm, which conducted the analysis. "The provider that dominates the industry looks to be pretty poor at what they do.''
For example, the study found that in the moderate-allocation category, the five-year return as of March 31 for the Fidelity Freedom 2020 was -0.62% and that for ...