|Expense Ratio (net)||0.68%|
|Morningstar Risk Rating||★★|
|Last Cap Gain||0.00|
|Inception Date||May 17, 1967|
|Average for Category||N/A|
Discover which five mutual funds are the largest investors in Electronic Arts, Inc., one of the largest and best-known creators of video games.
While it's true that most funds won't beat market indexes over long stretches after accounting for fees, here's a closer look at a handful of Morningstar Medalists that did.
Below we share with you three top-rated large-cap blend mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy)
Fidelity Investments said on Thursday its financial services operating profit rose 19.5 percent to $3.5 billion in 2016 despite massive withdrawals of investor money from its actively managed stock funds. By contrast, Fidelity's investment-grade bond funds beat 67 percent of peers. Revenue totaled $15.9 billion in 2016, an increase of 3.4 percent over 2015, according to Boston-based Fidelity, which is controlled by the family of Chairman Abigail Johnson.
Financial pundits shouted about record high levels for the stock market in 2016, but for actively managed stock mutual funds there was another record, one they would rather keep quiet: the largest amount of net withdrawals ever recorded. U.S.-based actively managed stock funds suffered $288 billion in withdrawals year-to-date through November, the largest on record, according to Thomson Reuters Lipper service. On the passive side, stock index mutual funds and equity exchange-traded funds each attracted about the same amount of new cash, more than $112 billion apiece in 2016, Lipper said.
We set out to reduce risk in a 40-something couple's college-savings portfolio while stepping on the gas for retirement.
Fidelity Investments' $105 billion Contrafund is having a bad three-year run, but you would never know it by looking at its fees. The mutual fund's management fees have increased 25 percent to $614 million over the past three years despite investors pulling several billion dollars as its performance lagged the benchmark S&P 500 Index. The escalation in fees at Contrafund is replicated in other large actively-managed funds run by Dodge & Cox, DoubleLine, TCW Group and T. Rowe Price, and belies a growing narrative in the U.S. mutual fund industry that such firms are under siege as investors redirect tens of billions of dollars each month into cheaper passive investments.
Long-time Fidelity Investments Chairman Edward C. Johnson III will retire next month and will be succeeded by his daughter, Abigail Johnson, the company said on Monday. During his nearly 40-year run as chairman of Boston-based Fidelity, Johnson turned the family-controlled company into a mutual fund powerhouse with $2.1 trillion in managed assets. The elder Johnson's retirement was not unexpected, as he is 86 years old and Abigail Johnson, 54, has been running the U.S. mutual fund giant on a day-to-day basis as chief executive officer since 2014.