Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Fido Cuts Stock Research Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 30, 2002

Fido Cuts Stock Research

by: Sean Hanna, Editor in Chief

Fidelity Investments is ending its effort to build a business out of providing independent stock research. The Boston Behemoth has long been known for its investment research abilities, but until two years ago it had kept the fruits of that research to itself.

That changed two years ago when the firm started to offer independent research to broker-dealers in a move that put it in competition with Wall Street investment banks. Fidelity sold the research through its seven-year-old Vestigo Associates unit which operates as part of Fidelity Capital.

The decision to cease offering selling equity research to outside clients was revealed in a memo to clients yesterday. Vestigo will continue to offer bond research to the clients and its six stock analysts will be reassigned.

At its peak Vestigo analysts covered just 24 companies. That left Fidelity playing in mid-court, neither at the net nor at the baseline. The firm had the choice of significantly expanding the coverage to make the product more viable or pulling back. It chose to pull back.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use