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Article: Fidelity: 3-Month Fall; Nov. Jump.(Fidelity Investments, mutual fund performance)
- Article from:
- American Banker
- Article date:
- December 14, 2005
- Author:
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Fidelity Investments suffered three straight months of outflows from its stock and bond funds in late summer and early autumn, according to Financial Research Corp., but the Boston mutual fund giant called the streak "cyclical" and said inflows were robust in November.
Fidelity said it had $1.96 billion of inflows into its long-term (stock and bond) funds last month. Counting money market funds, inflows totaled $3.96 billion, it said. This was a reversal from the results of August through October, which began with $165 million of stock and bond outflows and descended to $1.34 billion of outflows, Financial Research said.
"Mutual fund flows tend to be cyclical," said ...