fund group put up good sales numbers in December of 2007 but numbers for the whole of 2007 were well below 2006's numbers.
According to FRC
data, the Boston Behemoth saw net flows of $2.09 billion in December. Net flows for the entire year totaled $3.47 billion. The full-year number is well below the $13.26 billion in estimated new flows into Fidelity funds in 2006.
Sought for comment, Fidelity spokesman Vin Loporchio pointed out that FRC's data does not include flows from money-market funds, a major source of revenue for the company. Fidelity's figures that include money-market funds put net flows for 2007 at $86.1 billion, up from $60 billion in 2006.
For the month of December, net flows were $11.1 billion, up from $2.3 billion in 2006, Loporchio added.
In the beginning of 2008, Fidelity reopened its flagship Magellan Fund for the first time in 10 years. This may work to add equity flows for the company.
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