I was looking at opening an IRA with Fidelity and one stock that caught my eye was FDIVX. However, according to the information page for the stock it is closed to new investors:
Why would a fund be closed to new investors?
Normally, a closed fund is closed to new investors, but if you already own shares, you can often buy more.
A fund closes because the manager thinks that he or she cannot do as well with more money. The theory is that a small fund can find opportunities to beat the market, whereas a large fund gets so big that it essentially becomes an index fund.
-john-
It can't find anything to buy and ends up with so much money in cash that it can't keep up its present growth percentage with cd's or t bills
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