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Fidelity's Mangum Tops the Charts (Again)

Well-timed move into tech boosts Fidelity Dividend Growth, Advisor Dividend Growth.

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Charles Mangum finally found some tech stocks that he liked.

Mangum has made at least a brief foray into technology at Fidelity Dividend Growth (FDGFX) and Fidelity Advisor Dividend Growth (FDGTX). Mangum had long underweighted the sector relative to his S&P 500 benchmark, but he did some significant buying in 2001's first quarter, bringing the funds' exposure in line with the index's, according to figures provided by Fidelity. Since early April, tech stocks have bounced well off their lows, giving the funds a lift. Moreover, although Mangum owns a few tech stinkers, he has typically favored reasonably priced tech stocks such as IBM (IBM), Microsoft (MSFT), and Computer Associates International (CA), which have all registered strong gains so far this year.

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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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