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

To: Jim Battaglia who wrote (1284)	11/28/1998 8:37:00 AM
From: jbIII	Read Replies (1) \| Respond to of 4916

If you buy the mutual fund shortly before the distribution I guess the question is, "what is Shortly?", which I believe is at least one week but may be a function of the declaration date and the distribution date. Plus there is also a split between long term and short term gains, you may have to pay on short term if the fund is opened at least 1 day before the distribution date. ==================================================================== NEW YORK, Nov. 19 /PRNewswire/ -- On November 19, 1998 the Kaufmann Fund declared a capital gain distribution of $0.667 ($0.610 long-term and $0.057 short-term) per share. Kaufmann Fund shareholder accounts opened after November 20, 1998 will not have a long-term capital gain tax liability for 1998. Capital Gain Distribution Information Declaration date November 19, 1998 Record date November 20, 1998 Ex-dividend date November 20, 1998 Payable date November 27, 1998 What always seems strange to me is a fund can actually lose NAV for the year but still declare a cap. gains distribution that you have to pay taxes on. Kaufmann is an example this year :( jb3