Fidelity Adds Tax Managed Fund to Advisor Category
"Interest in tax managed investing continues to increase among advisors and their clients, especially in the wake of last years record fund distributions," FIIS EVP Mike Kellogg said in a statement. Timothy Heffernan, who also manages the Fidelity Tax Managed Stock Fund, among other funds and separate accounts, will be the funds manager.
In announcing the fund, FIIS warned investors that "tax-sensitive investing may not provide as high a return as other funds before consideration of federal income tax consequences" and that "the fund may realize capital gains from time to time."
