BANKING & FINANCE - June 22, 1994

Fidelity Fund Prices Found to Be Erroneous: Fidelity Investments submitted incorrect prices Friday for most of its mutual funds to the National Assn. of Securities Dealers, providing day-old figures that appeared in newspapers nationwide, officials said. Fidelity, the nation’s largest mutual fund manager, was unable to calculate the value of about 150 of its 208 funds due to a computer error, Senior Vice President Jane Jamieson said. The error was discovered Monday after calls flooded the NASD, said James Spellman, a spokesman for the NASD, an industry group that polices securities brokers and is overseen by the Securities and Exchange Commission. Fidelity fixed the problem and a correction was transmitted in the fund tables released Tuesday, Spellman said.