Fidelity abandons alternatives

Conflicts of interest at mutual funds in the spotlight

Monday 11 August 2003 at 16:00

Fidelity Investments has put conflicts of interest at mutual fund companies that run hedge funds back in the spotlight by spinning off Geode Investors.

The $830bn (€730bn) asset management house disposed of Geode, which uses techniques including short-selling and quantitative modelling, to run money on behalf of Fidelity's richest employees.