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'Imprecise', well, sort of. It does appear to be an online issue and an editing problem, said the editor. (No one has said anything at any point about purchases.)reserving the right to reject orders exceeding ...
You were given imprecise information. Fidelity, like most fund sponsors, puts in boilerplate allowing them to reject any purchase, including a purchase via an exchange if they feel it would disrupt the fund. But not sell orders. If they did, the funds would no longer be classified as OEFs.https://www.sec.gov/rules/proposed/2015/33-9922.pdfAn open-end fund is required by law to redeem its securities on demand
Based on the purchase dollar limit you were given for FCNTX, and the limit that I actually hit on a very new and very small Fidelity fund, it looks like Fidelity sets its fund limits at 0.1% of AUM. (M* shows FCNTX as having $139.5B, or roughly 1,000x the purchase limit.)
Regarding redemption in-kind, Fidelity (or any fund company) would distribute securities owned by the fund. Obviously if the fund were to sell some securities just to purchase other ones to hand you, it might as well hand you the cash since that would be no more disruptive.
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According to the latest semiannual statement, Fidelity Contra redeemed 293,065 FCNKX shares in kind, worth $5,071.454. It does happen.
I believe @davidmoran linked this portfolio planning tool that does a pretty good job of allowing the inputs (your numbers) to be iterated for optimization...tax optimization being one output. Might be helpful.Taxes will have to be paid on this portfolio as required minimum distributions take effect so I want to be more conservative in this portfolio, and more aggressive in a Roth IRA.
NEAIX is more growthy and multi-cap (it’s about evenly split between large, mid, and small caps) than I’m looking for. Has a higher max drawdown and lower upside/downside ratio.Thanks for mentioning; I hadn't looked in a while. How about NEAIX? You'd have to be convinced about tech, though!
The institutional class, NESIX, has a lower ER than MSSMX and Schwab only requires a minimum investment of $2500/$1000 with a TF. (Fido, unfortunately, has a $100K minimum.)MSSMX and NESGX are the two Fido NTF SCG funds that always end up being my final two funds to select from after screening that cat.
NESGX is more expensive, less volatile and similar TRs over standard interim periods, and a very worthy candidate in this cat.
I called them last Thursday and they told me the distros would be "soon" ... which makes sense since they tend to pay in mid-to-late November (18/19-ish this year I think they said).Oops - Parnassus is NOT yet showing end of year on all funds
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