5 Mutual Funds to Buy for 2013

Snatch up one or more of these hot funds in the new year

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Fidelity Contrafund

Fidelity mutual funds 401(k)Most investors want to buy and hold undervalued companies … and most investors can find undervalued companies. The challenge for those investors is sticking with that approach all the time, rather than being shaken out of a stock position at the most inopportune time. The Fidelity Contrafund (MUTF:FCNTX) is the cure for that ill.

The Fidelity Contrafund is headed up by William Danoff, who’s been at the helm since 1990. A 22-year tenure with one fund speaks volumes about how good he is, given the mutual fund industry’s usual management musical-chairs.

Danoff has a penchant for playing good defense when necessary and playing good offense when opportunities arise. Though the fund’s one-year return of 14.8% actually lags the benchmark S&P 500’s performance, the Contrafund’s average annual return for the past ten years is a solid 9.6%, trouncing the S&P 500’s 6.36%.

Article printed from InvestorPlace Media, http://investorplace.com/2012/12/5-mutual-funds-to-buy-for-2013/.

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