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Strategies & Market Trends : Fidelity Select Sector funds -- Ignore unavailable to you. Want to Upgrade?

To: Julius Wong who wrote (3491)	3/9/2001 6:22:06 PM
From: Julius Wong	Read Replies (1) \| Respond to of 4916

Boston: Fidelity Investments, Janus Capital Corp. and Putnam Investments all dumped shares of Home Depot Inc. and Nortel Networks Corp. in the fourth quarter as three of the biggest fund firms added to holdings of drugmakers. Home Depot and Nortel each fell more than a third last year, helping lead to the first annual decline in the fund industry's long-term assets since at least 1986, according to figures from Financial Research Corp., a Boston-based consulting firm. Fidelity, Janus and Putnam sold $3.56 billion of Home Depot shares and $2.56 billion of Nortel shares in the fourth quarter, according to New York-based Thomson Financial/Carson, which compiles fund firms' Securities and Exchange Commission filings. In the same period, the three firms bought more than $7 billion in shares of drugmakers such as Merck & Co., Bristol-Myers Squibb Co. and Eli Lilly & Co., according to Thomson.