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Fidelity drops Fisher's money management firm as withdrawals accelerate

From reuters.com

Fidelity Investments has dropped Fisher Investments as a money manager, a Fidelity spokesman said on Monday, the latest in an accelerating series of withdrawals from the firm over allegedly sexist comments by its leader, Kenneth Fisher. Fisher had managed $500 million in the $8 billion Fidelity Strategic Advisers Small-Mid Cap Fund (FNAPX.O), a mandate the Boston firm said last week was under review. Since then a set of public pension funds also pulled money from Fisher, including funds in Iowa and in the cities of Boston and Philadelphia, bringing total withdrawals to around $1.8 billion. Other systems have Fisher ... (full story)

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