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Fidelity Equity-Income Message Board

  • sath_us sath_us Dec 15, 2007 10:28 AM Flag

    Biggest Blunder MF is FEQIX

    I have been long in this fund since last 20 yrs and I am so sick to see this non-performing fund returns.

    I would have had more $$$ if I had parked the money in Bank CD deposits.

    This is going to be my last years in this fund investment.

    Good Luck Fidelity 401K rippers. Why pay this fund manager overhead when they cannot give more the Bank rate CD's returns.

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    • I am with you. I have had FEQIX in my account for years. It shows a 250% gain which is better than a loss, i guess. Started selling it off today. Order is in but I guess I will be screwed as the market just opened down 200.

    • This fund mirrors the S&P 500, that is the type of reurn you will get.

    • apparently you have not been watching the Dow, general economy, or talking to an financial adviser. you need to take care of yourself because nobody else will without some money.

    • Now my 401K say sell at loss and get out of this fund. start of the year NAV 65 to sell at NAV of less than 45.

      Does this mean this fund won't be avaiable after 8/29/2008. I am not making any further contribution further.. but was still holding to get decent exist betn Nav of 50 and 60'

      401(k) Committee regularly assesses fund
      performance against benchmarks in the interest of adjusting the Plan's investment options to maximize investment choice
      and align to market performance.

      It's the Plan Committee's view that the Fidelity Growth and Income Portfolio has not performed as expected in comparison to its respective benchmark index.

      As a result, the Committee has determined it is prudent to remove the Fidelity Growth and Income Portfolio from the fund lineup at this time.

      Additionally, the AIM Charter Fund-Institutional Class will be added to the
      plan effective 8/29/2008.

    • You need to look at diversification & having weighting in deifferent funds of multiple sectors. Helps smooth out the bumps, which have been bumpy lately.

    • I just stayed into the fund as FEQIX and Magellan were considered some of safe Fidelity MF, that my company offerred at that time at time.

      My contributions in 401K was just for tax deductions. I wish govt would have allowed our hard earned 401k $$ to invest in finnacing our own house, Instead of throwing the money on 401K, with company provided limited MF to choose that don't even belive in giving the min. return to the investor.

      I am aware I can take the loan on my 401k asset for housing but that options penalized the 401K holder plus have to pay interest and loose the tax deductions.

      Look at 2007 they have lost most of their gains. why do I pay fund administration fees what these MF manager cannot even gurantee min. Bank CD return on investment.

      In last 20 year I should have quadruple my initial 14K in FEQIX since 1987. and I see my this pos still sitting at 19K.

      One of the worst return I have ever seen inm y portfolio is FEQIX. I wish they re-coup some of losses in 2007 or else I I move it to some foreign fund that have been giving atleast 12% to 15% return.

    • One cannot use the Yahoo! Finance charts to plot funds versus indices, as the charts do not correct for mutual fund distributions --- which in the case of FEQIX, are substantial, and regular.

      Equity-Income has outperformed the S&P by a small amount over the past decade, and it seems likely that the fund has outperformed the S&P since its inception in 1966. Purely as a matter of opinion, FEQIX is an excellent fund, run by one of Fidelity's most able and experienced value managers, Stephen Petersen. It is also worth noting that Mr. Petersen invests in this fund along with shareholders, as he has over $1 million of his own funds committed to FEQIX.

      Opinion: BUY

    • Why hang on to it for 20 yrs if the returns were no good ??

    • If it has been such a poor performing fund, why did you stay in it for 20 years?

    • What is your calculation of the average annual return on this Fund for 2007?

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