Fidelity's Danoff is undeterred by lofty markets

$108-billion manager will enjoy more flexibility with new global fund for Canadians.

Michael Ryval 23 March, 2017 | 5:00PM

Even though equity markets are at elevated levels, legendary U.S. growth investor Will Danoff, who manages the US$106-billion Fidelity Contrafund, argues there are lots of equity opportunities that he can use to fill the newly launched Canadian-based Fidelity Insights Class.

"There is a huge 'pond' of stocks globally and there are lots of opportunities, especially for a fund that is just launching," says Danoff, senior vice-president at Boston-based Fidelity Investments. He oversees about US$146 billion in assets, including Contrafund, the world's largest fund actively managed by one individual.

Last October, the Wall Street Journal hailed Danoff as "The $108-billion Man Who Has Beaten the Market." Since he assumed the portfolio in September 1990, Contrafund has had an annualized 12.7% return to December 2016, beating the benchmark S&P 500 Index by 2.7 percentage points a year.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Alphabet Inc A1,451.09 USD-2.42
Facebook Inc A252.53 USD-0.90
Metro Bank PLC1.00 USD-13.79

About Author

Michael Ryval

Michael Ryval  

© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies