Fidelity takes a stand on directors
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WASHINGTON - Fidelity Investments, the world's largest mutual-fund manager, more than doubled its votes against corporate board nominees this year to object to executive severance packages and director absenteeism.
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Fidelity Investments, the world's biggest mutual fund company by assets, said yesterday it will offer mutual funds run by a team instead of one person, in a move analysts said was aimed at trying to increase sales.
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Fidelity Investments will close its fast-growing $17.8 billion Diversified International fund to new purchasers at the close of business Oct. 25. The fund, managed by William Bower, grew to assets of $18.7 billion as of Oct. 8. It had a year-to-date return of 6.8 percent through the same date. The fund assets, including investor inflows and asset appreciation, grew from ...
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The Putnam Investments mutual funds aggressively voted against corporate boards that failed to meet strict standards for director independence last year, new proxy disclosures show.
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It's been nearly two years since Fidelity Investments dispatched new managers to take over two of its biggest mutual fund stars of years past and try to revive them from long stretches of stock-picking torpor.
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Company, one of the core backers of Blu-ray, will also support its rival format.
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Fidelity Investments yesterday disclosed new posts for two children of its 76-year-old chairman, Edward C. Johnson III, positioning them to have a greater say in the future of the Boston mutual fund giant founded by the Johnson family in 1946.
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Federal regulators said in court papers filed yesterday that Fidelity Investments' money management arm "may have, directly or indirectly" defrauded some clients or prospective clients during a two-year period from 2002, actions which may have prevented Fidelity customers from getting the best possible deals on stock trades.
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Fidelity Investments chairman and chief executive Edward C. "Ned" Johnson III is known for a rare attention to detail within his sprawling family enterprise. Example: Displeased with the style of sinks at a fitness center in the Fidelity-owned Seaport Hotel , he ordered them torn out and replaced. A faulty alarm at the South Boston hotel also prompted action: He ...
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Mutual fund companies in Boston say they have strict prohibitions against employees getting the kind of wining and dining and luxe entertainment that government regulators are investigating at Fidelity Investments, but industry officials and attorneys in the field contend such extravagance is nonetheless common in the investment world.
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Fidelity Investments&#39; largest funds voted to oust Michael D. Eisner from the chairman&#39;s post at Walt Disney Co., in one of last year&#39;s biggest proxy battles, according
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Fidelity has opened the door again to new investors in its Magellan fund. The behemoth fund, made famous in the 1980s by legendary stock picker Peter Lynch, shut out new money more than 10 years ago.
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Fidelity International Ltd.'s chief executive, Barry Bateman, said clients have withdrawn about $3 billion from the firm's European Growth Fund since manager Graham Clapp said at the start of the year that he was quitting.
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Fidelity Investments will pay $3.75 million in fines for supervisory failures, including allowing traders to accept gifts like Super Bowl tickets and chartered flights, NASD, the brokerage industryâs main regulator, said yesterday.
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Fidelity Investments plans to allow new investors to put money into Magellan, once the largest mutual fund in the U.S., for the first time in more than a decade.
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Fidelity Investments is gearing up to make its mobile applications available on the iPhone as part of an effort to keep up with the likes of Amazon.com and eBay on support for handhelds.
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Fidelity Investments is being sued by  workers at Deere & Co.  who claim the world's largest  mutual fund company charged them "unreasonable" fees and  expenses to manage their retirement savings.