This Fidelity Contrafund Review (FCNTX) is looking at the factors that have made this a 5 star fund for its investors.
The success of this fund can be contributed to the fund manager which is William Danoff. He has been guiding this fund since September of 1990. He has been with Fidelity since 1986 and has served as a security analyst and portfolio manager and was a leader of the specialized growth group at this firm. Before joining Fidelity he was with Furman Selz where he handled advertising stocks and special situations. Under his care this fund has had a 10 year annualized return of 3.06%, but last year was the best year for this fund at 30.7%. All of the returns each year was in double digits, the let down was 2008 when it lost -37.2%
The net assets of this fund were at $54.2 billion as of January 31, 2010. This is a large growth fund that has 94.3% of the assets in stocks with 18.5% being in foreign interests. The sectors of business this fund has invested in are diverse. Hardware leads the way with 13.9% of the assets that is closely followed by financial services at 13.3% and health care at 11.4%. The top 5 holdings contains 20% of the funds overall assets.
This fund has volatility factors that include a beta at 0.88, the R squared at 0.89 and a standard deviation of 18.71. All of these were determine at January 31, 2010 and covered the past three years.
The minimum to invest in this fund is $2,500 and the expenses of this fund are currently at 0.95%. This is one of the mutual funds that Morningstar has rated with 5 stars for the life of the fund except during the 3 year review where is only received a 4 star rating.
This Fidelity Contrafund Review (FCNTX) finds this mutual fund a below average risk with above average returns for its investors.