Fidelity Investments announced Tuesday it is reopening two of its largest funds, Contrafund and Low-Priced Stock Fund, to new investments, effective Dec. 16.

Contrafund, whose assets are down 44% this year to $45 billion, has been closed to new investors since April 2006, and the $19 billion Low-Priced Stock Fund has been shuttered since December 2003.

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