Shareholders in a number of large Fidelity mutual funds, most notably the $73 billion Contrafund, succeeded in forcing a proxy vote at press time on whether the company should institute a "genocide-free" investment policy. Insiders did not expect, however, the unbinding measure to pass.

Meanwhile, on March 5, Fidelity settled with the Securities and Exchange Commission over the investigation into whether the firm improperly accepted gifts, tickets and invitations to parties from large brokerage firms, including Jefferies. The case, which came colorfully to light three years ago with revelations of a jet, a Miami bachelor party and a dwarf, is now closed.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.