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Low Tech Weight Helps Firestone's Fidelity Funds

Large Cap Stock, Advisor Large Cap Stock hold up well in difficult environment.

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Things might have been a lot worse for shareholders of Fidelity Large Cap Stock Fund (FLCSX) and Fidelity Advisor Large Cap Stock (FALAX).

Manager Karen Firestone has consistently taken on less risk than most of her peers in the large-cap growth category--a stance that has paid off for these funds in early 2001. As of March 31, 2001, Firestone had stashed just 19% of the funds' assets in technology, according to figures provided by Fidelity. By contrast, her average rival devotes roughly 30% of assets to the sector. For the year to date through May 17, 2001, the funds had lost less than 5%--less than half the 10% drop of the average large-cap growth fund.

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Scott Cooley does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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