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Rating:Is Fidelity's Blue Chip Fund Somewhat a Misnomer?
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Wednesday, December 08, 2010

Is Fidelity's Blue Chip Fund Somewhat a Misnomer?

News summary by MFWire's editors

In Wednesday's Wall Street Journal Fund Track, Jon Kamp notes that Fidelity's $12.7 billion Blue Chip Growth Fund goes beyond blue-chip stocks and adds that PM Sonu Kalra's wider view has helped the no-load fund outpace the broader market.

"Certainly, there are a lot of holdings that wouldn't qualify as 'blue chip' by anybody's standards," Morningstar lead Fidelity analyst Christopher Davis was quoted in the article as saying.

Examples are Baidu, Las Vegas Sands and United Continental Holdings.

"I'm not only looking to include today's and yesterday's blue chips," Kalra explained to the WSJ.

As of Monday, the fund is up 18.2 percent year-to-date, outpacing the Standard & Poor's 500-stock index by 6.4 percentage points.  

Edited by: Hung Tran

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