William Danoff
William Danoff is a vice-president and portfolio manager of Fidelity Contrafund,[1] since 1990. At US$108 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person.[2]
Fidelity Contrafund
William Danoff is the single manager of the Fidelity Investments' flagship mutual fund Contrafund. Contrafund is one of Fidelity's largest mutual funds holding over $108 billion in assets, making it the largest single manager mutual fund in the world. Danoff has made the Contrafund mutual fund a huge success by outperforming the S&P 500's trailing one year, three year, five year, ten year and fifteen year total returns, making the mutual fund one of only three to accomplish such an achievement still in the marketplace as of the beginning of the year 2014 (according to Morningstar Incorporated). However, the achievement assessed by Morningstar Incorporated is more impressive due to the fact that the Fidelity Contrafund holds over $100 billion in investments making the accomplishment rare and more difficult.
The level at which William Danoff has accomplished such heights in profits is all the more impressive when considering the size of the Fidelity Contrafund is the second largest actively managed mutual fund in the market as it sits now behind the American Funds Growth Fund of America (AGTHX). To boot, the American Funds Growth Fund of America holds about $138.9 Billion; only approximately a quarter larger than William Danoff's captained Fidelity Contrafund. The other thing to be considered in the comparison between the American Funds Growth Fund of America and the Fidelity Contrafund is that the American Funds' flagship mutual fund has eleven to twelve managers where the Fidelity Contrafund is only managed by William Danoff; this fact contributes to the industry praise and belief that Danoff is a mutual fund managing prodigy. William Danoff said in an interview in the summer of 2013 to help explain his success - "Larger funds have a higher degree of difficulty. For me, it's the ability to make big bets — it's harder. My denominator is so big that it's not that easy to find really great stories at scale."[3]
See also
References
- ^ "William Danoff — The Lone Wolf". Retirement Corporation of America. 2008. Retrieved 2009-07-19.
- ^ Zweig, Jason. "The $108 Billion Man Who Has Beaten the Market". WSJ. Retrieved 2016-10-23.
- ^ In a class by himself, Fidelity fund manager William Danoff keeps performance humming; Jason Kephart; Investment News; January 21, 2014
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