Fidelity Reopens Two Funds
March 15, 1999
Fidelity is re-opening its Low-Priced Stock Fund and Small Cap Stock Fund to new investors this Wednesday. When Fidelity closed the Low-Priced fund in April, 1998, it had $12.1 billion in assets. That fell to $7.8 billion by the end of last month. The Small Cap fund was closed in May, 1998, since it had swollen to $700 million in assets after only two months of operation. By the end of February, that had dwindled to $490 million. Robert Pozen, president of Fidelity's Management & Research Company, said in a statement that the firm has no plans to re-open any other closed, or partially-closed funds.