In Ip Os, Fidelity Is The One With The Muscle

In the game of initial public offerings, no one doubts that Fidelity Investments is the 800-pound gorilla. The Boston mutual-fund giant is the largest and the most aggressive buyer of IPOs. By using its clout on behalf of investors in its funds, Fidelity gets hefty allotments of hot IPOs and can sometimes influence their prices, say Street sources.

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