Fidelity to Reduce Disclosures of Net Assets

Fidelity Investments plans to stop disclosing the net assets of its individual mutual funds on a daily basis amid concern that market speculators are misusing the information. “There are a number of people who look at the change in assets to try to determine how the funds are trading, and that’s no benefit to the shareholders of the funds,” said Anne Crowley, a Fidelity spokeswoman. Starting early next year, Fidelity will make the fund asset information available on a monthly basis instead of daily, Crowley said. The move comes after a similar decision by Vanguard Group. Other funds are also concerned. Some managers at the Oakmark Funds have postponed reporting assets by several months, which has disrupted their newspaper listings for technical reasons. The moves also reduce the accuracy of mutual fund flow data.