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Article: SEC Investigating Mutual Fund Star; Personal Trading by Managers At Fidelity Is Scrutinized
- Article from:
- The Washington Post
- Article date:
- April 19, 1996
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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The Securities and Exchange Commission is investigating
Jeffrey Vinik, who runs the $56 billion Magellan Fund, and other
fund managers at Fidelity Investments to determine whether they used
Fidelity's market power to profit in trading stocks for themselves,
according to government and legal sources.
Investigators are looking at the personal trading of at least
three Fidelity fund managers besides Vinik, the sources said.
They also are examining the trading of three former Fidelity
employees, a former fund manager and two former analysts, while they
were at the firm, the sources said.
The agency's enforcement division is trying to determine
whether the fund managers and analysts ...