Fund Times: Openings, Closings, & Manager Changes
Fidelity, Fremont, Turner, Wasatch, Pioneer, Hartford, Dreyfus, and others
Fidelity Boots Bertelson Off Aggressive Growth
Fidelity announced today that effective Nov. 15, Bob Bertelson will step down as manager of Fidelity Aggressive Growth (FDEGX). The move was not a surprise.
Aggressive Growth was a bull market darling, attracting scads of attention and assets in the wake of its more than 100% return in 1999. The fund's fortunes started unraveling, however, shortly after former manager Erin Sullivan left early in 2000 to start a hedge fund and the technology and growth stock bubble that propelled the fund's late 1990s returns burst.
Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.