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Rating:Fidelity Makes Its Shadows More Dear Not Rated 1.0 Email Routing List Email & Route  Print Print
Friday, February 5, 2010

Fidelity Makes Its Shadows More Dear

News summary by MFWire's editors

Fidelity Investment has upped the price of its shadow shares. In an article oddly titled Fidelity Raises Internal Payouts, Reuters reported that Fidelity added $111 to the value of each executive share. As a family-run, privately owned company, Fidelity issues internal company stock to high-level employees.

Although the increased sales price is likely a sign of a growing business, Fidelity has experienced some management shake-ups recently. In Jaunary, Fidelity president Roger Lawson revealed his plan to step-down, and a replacement has yet to be named. Later in the month, it was confirmed that clearing and custody chief Charles Goldman was also exiting the company.

Additionally, a BusinessWeek article Wednesday noted that Fidelity has been losing mutual fund marketshare over the past 10 years. 

Edited by: Daniel Tovrov

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