Letters: Oct. 21, 1996

CAN FIDELITY STILL MAKE YOUR MONEY GROW?

Your article on the mutual-fund giant Fidelity Investments [BUSINESS, Sept. 30] included the terms arrogance, aggressiveness, young, cocky competitiveness, volatility, obnoxiousness and the phrase "wandering far from their ostensible mandates." Is this type of behavior consistent with the fiduciary duty owed to the client by a fund? The advent of the investment supermarket appears to have transformed investors into mere customers. Caveat emptor. MARK JASAYKO West Vancouver, British Columbia

Does Fidelity's new strategy for expansion--leveraging its massive technology infrastructure to obtain new revenues via benefit plans, human-resources-administration duties and payrolls--raise concerns about the company's...

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