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Mutual funds

Mutual Funds (Really) Like Facebook

By Hung Tran
Published May 21, 2012, 8:43 a.m. EDT
|
Updated April 26, 2016, 4:29 p.m. EDT
1 Min Read

Over the past year, nearly 70 mutual funds have snapped up pre-IPO shares of Facebook on private markets ahead of its IPO, CNNMoney reports.

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Specifically, T. Rowe Price and Fidelity are among a number of mutual funds that have reportedly bought up shares on private markets and spread their stake across a number of different funds. At least 16 T. Rowe Price funds hold shares of Facebook, including T. Rowe Price Growth Stock (PRGFX), T. Rowe Price Blue Chip Growth (TRBCX) and T. Rowe Price New America Growth (PRWAX). And more than 30 Fidelity funds including Fidelity Contrafund (FCNTX), Fidelity Growth Company (FDGRX), and Fidelity Diversified International (FDIVX) have exposure to the social media behemoth.

Other firms that have placed bets on Mark Zuckerberg and Co. includes the Morgan Stanley Focus Growth Fund, GSV Capital and Firsthand Technology Value Fund.

Facebook was trading at $39.54 at press time, not far off from its initial IPO price of $38.  

 


Hung Tran
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