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Rating:Meet the Fidelity PM Who Dislodged Ken Heebner from the No. 1 Perch Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, April 25, 2011

Meet the Fidelity PM Who Dislodged Ken Heebner from the No. 1 Perch

News summary by MFWire's editors

Fundsters interested in equity offerings, particularly those focused on junk-rated companies, may want to take a look at Bloomberg. Charles Stein profiled Thomas Soviero, whose $4.2 billion Fidelity Advisor Leveraged Company Stock Fund [see profile] earned 15 percent annually for the past decade, beating out all 3,616 other diversified U.S. equity mutual funds according to Morningstar.

Soviero himself and Wells Fargo manager Margaret Patel both weighed in for the article. Bloomberg also notes that Soviero's fund succeeded Ken Heebner's CGM Focus Fund at the top. (CGM Focus topped the rankings for almost three years in a row and just slipped to ninth.)

"Debt doesn't have to be a four-letter word," Soviero told the wire service. "When it works in your favor, good things can happen." 

Edited by: Neil Anderson, Managing Editor


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