Four Fidelity Funds Hit With Large Redemptions

Fidelity Investments manages four of the nation’s 10 mutual funds to be hit with the largest redemptions year-to-date through October, Bloomberg reports.

The Fidelity Growth & Income Fund has lost $10.2 billion, Fidelity Magellan is down $7 billion, and investors have taken a combined $8.8 billion from the Fidelity Blue Chip Growth and Fidelity Low-Priced Stock funds.

The redemptions are somewhat of a surprise, given the fact that 86% of Fidelity’s actively managed funds have outperformed their benchmarks in the first 10 months of this year, up dramatically from 17% for the comparable period last year.