Thanks to the huge influx of new monies, the fund closed to new investors in 2006. Ford Motor says its employee retirement plans will pull an estimated $900 million from Contrafund, the flagship mutual fund of Fidelity Investments. Its Expense Ratio the money Fidelity gets is now .82%. Bottom Line. Based on our forecasts, a long-term increase is expected, the "Fidelity Contrafund" fund price prognosis for 2026-05-06 is 28.139 USD. Fidelity's Will Danoff explores the possible reasons for outflows from the $139 billion Contrafund he runs and discusses the value of active management as passive vehicles such But investors +1.91% The fund, established in 1990, holds $63.82 billion for 3.7 million account holders, many of them retirees. the company said Friday. NEW YORK, March 31 (Reuters) - Fidelity Investments, one of the worlds largest asset managers, on Tuesday closed three money market funds to new investors VIP funds are offered as part of variable insurance products sold through third-party intermediaries and Fidelity's own variable annuities and variable universal life insurance products. 4/3/1998 - 12/15/2000 The fund has been closed in the In addition, employer-sponsored retirement plans and certain discretionary programs offered by registered investment advisers may be able to open additional accounts for investors if the funds were established as an option as of April 28. Find our live Fidelity Contrafund Fund fund basic information. Investor inflows into the funds have accelerated as a result, with the two funds taking in a total of more than $12 billion in net new cash in the 12 months through Feb. 28, Bullen said. According to Morningstar, Contrafund has averaged a 22% return for the three years ended Thursday, beating the Standard & Poor's 500 Index "Fidelity is so huge in 401(k)s that their closing of funds does not result in the sort of shutting off of new flows the way it does in other funds," Kinnel said. The Weiner will work closely with portfolio manager Danoff in providing additional investment ideas for the fund. The Fine Print. Opinion: Almost Nothing Youve Heard About Evictions in Jerusalem Is True, Opinion: Russias Hackers Unwisely Mess With U.S. Gas Prices, Opinion: To Be Young and Pessimistic in America, NASAs Perseverance vs. Chinas Zhurong: Rover Tech in Mars Space Race, Video: Gaza Tower, Home to International Media, Destroyed in Airstrike, Fully Vaccinated People Dont Need Masks in Most Settings, CDC Says, Start today & save up to $20 with TurboTax 2021, May H&R Block discount - 35% off new tax prep software, 20% off sitewide - Target Promo Code 2021, Macy's coupon - Sign up to get 25% off next order, 30% off Kohl's coupon for Rewards members. Fidelity Contrafund made its debut in May of 1967, and since then, FCNTX has accumulated about $97.24 billion in assets, per the most up-to-date date available. Bald Eagles Are Back. BOSTON (MarketWatch) -- Fidelity Investments is closing its biggest stock mutual fund, the $63.8 billion Contrafund, to new investors along with another fund Yet unless Contrafund was an option in your 401(k), you probably couldn't invest in it during the bear market. As an aside, Contrafund is an immensely profitable fund for Fidelity. Contrafund is now Fidelity's biggest fund, surpassing the better-known Write to Jennifer Levitz at jennifer.levitz@wsj.com, Copyright 2020 Dow Jones & Company, Inc. All Rights Reserved. which recently took on a new manager to turn around its subpar performance.