Fidelity Investments had net inflows of $164 million for April, the second month in a row the firm wasnt among the top 20 fund gatherers in the industry, according to the latest monthly data from Financial Research Corp. The closure of some of Fidelitys biggest funds to new investors including the $71 billion Contrafund and the $31 billion Fidelity Growth Company Fund may be a factor. In March, Fidelitys net inflows came to $174 million, although its totals for the year through April 30 were $5.6 billion.
BGI had the strongest inflows for April, with $10.5 billion, followed by American Funds, with $7.7 billion, and Vanguard Group, with $6.6 billion. Putnam Investments had outflows of $944 million in April, only the second month since September 2003 for which outflows fell below $1 billion.