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Fidelity Seeks Approval to Change Contrafund's Investment Policy

Is Fidelity Investments taking the "contra" out of Contrafund ?

Facing a slump in the $30 billion contrarian stock fund's performance, Fidelity is asking shareholders to approve a change in Contrafund's investment policy. The proposal would remove elements of what many consider to be the traditional definition of a contrarian fund. If shareholders approve the proxy in a Jan. 14 vote, the fund will no longer have a mandate to search out "unpopular" stocks.