MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, August 18, 2003 Dems Get Fund Firm as Landlord Fidelity Investments has reportedly found a way to put some of its excess office space to good use. The Boston-based fund firm will play landlord to the National Democratic Committee, reports Reuters. The decision to become a landlord to the Democrats bolsters the firm's claims that it is not a backer of either party. Earlier this year, Fidelity executives took high profile stands in support of President Bush's effort to eliminate the tax on corporate dividends. Fidelity officials said they supported the cut because it would be good for fund investors. The Committee is renting office space from Fidelity in downtown Boston as part of its preparations for the 2004 national convention. The lease starts this month and covers 10,000 square feet of office space. The amount of space taken by the committee will jump to 40,000 square feet starting in April. Even with the larger lease next year, the Democrats will be taking a miniscule portion of Fidelity's office space in the Boston area. The fund firm controls an estimated 5 million square feet of office space in the city. A Fidelity spokesperson told the news organization that Fidelity is happy to get money for the erstwhile vacant space. Printed from: MFWire.com/story.asp?s=5668 Copyright 2003, InvestmentWires, Inc. All Rights Reserved |