MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, April 12, 2012 Is Fidelity "Struggling to Find a Sense of Direction" Outside the U.S.? Fidelity's [profile] non-U.S. business "seems to be struggling to find a sense of direction," even as its original business here in the US of A stays strong. That's the conclusion of a pair of new Financial Times articles on the Boston Behemoth, two weeks after Fido inked a deal to sell off its Indian mutual fund arm [see MFWire.com, 3/28/2012]. Dan McCrum sang praises of the U.S. mutual fund titan, noting the 13 percent rise in Fidelity's 2011 operating profits and the best-in-class-for-the-decade performance of the mammoth Contrafund, while worrying about average performance overall and the "question of leadership succession." Kate Burgress, meanwhile, took a more concerned tone in her look at Fidelity Worldwide Investment, which manages $212 billion to the U.S. business' $1.46 trillion. Mark Dampier of Hargreaves Lansdown offered the quote about Fidelity Worldwide struggling (cited at the beginning of this MFWire.com article). The FT also cites anonymous sources' speculation that Thomas Balk "is being lined up to step into the shoes of Barry Bateman, aged 68, vice chairman." The article offers a glimpse at Fidelity Worldwide's recent history. Printed from: MFWire.com/story.asp?s=39719 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |