Fidelity trails competitors in November fund flows - Boston Business Journal:

http://baddogsinc.com/trainingoptions.html
As of Nov. 30, Fidelity's year-to-datse take was slightly less than $2 At least 25 other mutual fund firmsz reported stronger net inflows during thesame period. The fund-flos data was compiled by in Boston. Fidelitu reported a net outflowof $4.1 billion during the 30 days endefd Nov. 30. The company had $931 millionh in assets under management atthe month'ws end, compared to $833.90 million a year earlier. The year-over-year increase was largelyt due to investment gains and client transfersdfrom Fidelity's massive money market funds. Fund flows withib money market accounts are not reflected in theFRC numbers. Fidelith spokesman Vin Loporchio said the company was actuallyup $15.
12 billion in November when accounting for money market By that same measure, the firm'sd net inflow was $74.2 billion betwee n Jan. 1 and Nov. 30, compared with $60 billiomn for all of 2006, he said. Loporchio said the firm is committerd to performing well for its adding that 88 percentr of its domestic equity fundas outperformed industry averages during the 12 monthseended Nov. 30. reported the largesf November inflowamong Boston's fund managers, netting more than $7.3 billio n in new money from investors. Much of that cash was directerd at its exchange tradedfund (ETF), whichj netted roughly $5.7 billion from investors durinb the 30-day span. Between Jan. 1 and Nov.
30, State Street's funds reported a net investment inflowof $23. 1 billion, fourth best in the ETFs offer investors a basket of stocks targetinvg a specific industry or company and they are particularly popular among largeinstitutional investors. As such, they are prone to huge swingse in fund flows as shareholderss reallocatetheir holdings. For State Street's November upswing followed a $3.3 billio net outflow in October. "I wouldn't read into it too said Dan Culloton, an analystf with in Chicago.
On a related note, Statse Street announced Thursday that the head of its Globalk Advisorsinvestment arm, William Hunt, had resigned from the His departure came severak months after clients raisedf concerns over State Street's fixed income some of which were peggeed to subprime mortgages. The company has since taken a $279 million charge to account for itslegalp exposure, as some clienta have claimed that the subprimre strategy was inconsistent with theirr investment agreement with State Street. The company has deniede any wrongdoing.
Hunt's separation agreemenft calls forapproximately $14 million in cash and equity-related State Street veteran James Phale has replaced Hunt on an interimm basis. Meanwhile, continued its steadu -- yet torrid -- growth in November, rakinfg in slightly over $1 billion in net new The firm posted net inflowsof $13.2 billion for the first 11 months of eighth best in its industry. After registered the second-largest net outflow ($1.
1 billion) among Boston firms, followed by (outflow of $821 and (outflow of $597