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Bonds Are This Fidelity Fund's Best Friend

A low stock weighting has paid off for Fidelity Asset Manager: Growth.

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So far, at least, Fidelity Asset Manager: Growth (FASGX) has handled the market turbulence fairly well.

For the year to date through March 14, 2001, this fund has lost 8%, but that's good enough to put it in the top quintile of the large-blend category. The fund's roughly 30% stash of cash and bonds has helped steady it in a year when the typical large-blend fund has dropped 12%. With the Federal Reserve cutting interest rates in early 2001, bonds have posted modest 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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