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Article: Fidelity Dividend Growth Fund poised to beat rivals; Gains by large holdings are likely to help it turn the corner.(News)
- Article from:
- Investment News
- Article date:
- November 6, 2006
CopyrightCOPYRIGHT 2006 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: Kathie O'Donnell
BOSTON - Manager Charles Mangum's $16.2 billion Fidelity Dividend Growth Fund is on pace to beat its large-blend rivals for the first time in four years, helped by stocks such as AT&T and Wyeth.
San Antonio -based AT&T Inc. (T), which ranked as the Fidelity Investments fund's third-largest holding as of Sept. 30, had gained 46.7% year-to-date through last Tuesday. Madison, N.J.-based Wyeth (WYE), the fund's No. 4 holding, had gained more than 12.52%.
"People have been waiting for a long time - as have we - for Dividend Growth to turn a corner,'' said John Bonnanzio, group editor of Fidelity Insight, a newsletter based in ...