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Fidelity Central Core Funds
Old 03-01-2008, 03:21 AM   #1
Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 4,932
Fidelity Central Core Funds

its coming to light that fidelity maintains a core of about 27 mutual funds for use internally for fund managers to use if they like.

the problem is there is no information about what these funds hold avail to us. the super safe fidelity ultra short bond fund last year loaded up on sub prime stuff from one of these funds and was dead last in return by down 10% from its closest competitor. short term bond fund lagged by 5%.

just be aware that what you buy from fidelity may not be what you get. fidelty inflation proof bond lagged the index because it had tried to bolster its return with central core funds holding riskier stuff .

the idea of managers using these internal funds isnt all bad as it does give managers a quick place to invest incoming money and does allow them to devote their skills to finding really good investments out in the real world without devoting alot of time to investing every single dollar.

when it enables them to beat their index we love it. but i for one prefer to know exactly what my fund holds because just maybe id prefer an index fund if i wanted a more purer play
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