MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, May 23, 2001 May 23, 2001 How much is Magellan worth to Fidelity? At least $710.3 million this year. That is how much the fund earned its manager for the fiscal year ending March 31, according to a report in The Boston Globe. The paper, which gathered the data from SEC filings, adds that last year's haul from Magellan jumped 28 percent from 1999. The jump in revenues came even as the fund's asset base shrank to $80.1 billion from $109 billion thanks to performance-based fees paid to Fidelity for managing the funds. Those fees totaled $139.2 million and were based on rolling returns over the proceeding 36 months. The fund's gained monthly average of 4.9 percent against 3.1 percent for the Standard & Poor's 500, according to the paper. Related Story: The Boston Globe Printed from: MFWire.com/story.asp?s=26602 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |