Fidelity Pulls $500 Million From Fisher as Big Clients Flee
- Fisher Investments clients divest more than $1.8 billion
- Iowa, Boston, Philadelphia are among pensions to yank money
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Fidelity Investments is pulling the $500 million it has invested with Ken Fisher’s investment firm, according to people familiar with the matter.
The move by the mutual fund giant is part of a growing exodus of big clients in the wake of vulgar comments made by Fisher at an industry conference. Fidelity’s divestment brings the total yanked from Fisher Investments to more than $1.8 billion.