The fallout from billionaire Ken Fisher’s sexually-charged speech at a San Francisco conference last week continued on Tuesday when the investment giant Fidelity said it was reviewing its relationship with the money manager.
“We are very concerned about the highly inappropriate comments by Kenneth Fisher,” a Fidelity spokesperson told FOX Business.
“The views he expressed do not align in any way with our company’s values. We do not tolerate these types of comments at our company.”
Fisher Investments manages about $500 million within the Fidelity Strategic Advisers Small-Mid Cap Fund, according to Reuters.
Should Fidelity pull its money from Fisher, who manages $112 billion, it would be at least the second big investor to do so. The Michigan Treasury Department on Monday decided to withdraw $600 million of the state’s pension fund from Fisher Investments due to Fisher’s “completely unacceptable comments.”
Fisher, while speaking last week at a Tiburon Strategic Advisers event, compared wooing money-management clients with "trying to get into a girl's pants." Tiburon also cut ties with Fischer for life, Chip Roame managing director said, " And on a related note, I am disgusted to be included in phrases referring to old boys' clubs" as reported by FOX Business last week.
"Some of the words and statements I used during a recent conference to make certain points were clearly wrong, and I shouldn't have made them," he said in a statement to FOX Business. "I realize this kind of language has no place in our company or industry."