Fidelity Growth Company Wins Small Victory
This is one time when you might want to brag about a 23% loss.
Things might have been a lot worse for Fidelity Growth Company Fund (FDGRX).
This fund's 22.6% loss for the trailing year through June 8, 2001, probably hasn't prompted many shareholders to jump for joy, but maybe it should. Among large-growth funds that put up huge numbers in 1999, this one has held up better than most. An overwhelming majority of its highly aggressive rivals got walloped, as the dot-coms they rode to success a couple of years ago crashed and burned. One need only look at turbocharged sibling Aggressive Growth (FDEGX) for evidence: That offering's loss over the past year is nearly twice as large as Growth Company's. Even more impressive, this fund's return over the past 12 months puts it just inside the top half of the hard-hit large-growth category. In other words, manager Steve Wymer dusted most of his peers on the upside, then held his own during the sell-off.
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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