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Danoff’s Contrafund Is Best of Biggest: Riskless Return

Fidelity Investments’ William Danoff meets with executives from as many as 1,000 companies a year, jots down tickers in a tattered old notebook to identify what he calls “best of breed” companies and shuns an index-tracking approach to managing the $79.5 billion Contrafund.

That has helped Danoff’s fund produce the best risk-adjusted return among the 10 largest actively managed U.S. stock funds over the past decade, according to the BLOOMBERG RISKLESS RETURN RANKING. Danoff steered the fund to the biggest gain over the past 10 years, and achieved that with less volatility than all but one fund in the group, according to the Bloomberg ranking.