Fidelity may be losing some of the spotlight, and perhaps assets, to former fund managers. Eric Kobren, author of Fidelity Insight, is now directing wealthy investors and institutions into hedge funds run by ex-Fidelity portfolio managers. Kobren is recommending 11 hedge funds run by ex-Fidelity staff through a fund-of-funds approach, reports the Boston Globe. The minimum purchase through Kobren's fund is $1 million and it levies an 80 basis point advisory charge and a 500 basis point performance fee. Kobren's newsletter has been seen by some as influential in driving assets into highlighted Fidelity funds.  

See the list of all the 2002 Most Influential People



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