Over the past year, nearly 70 mutual funds have snapped up pre-IPO shares of Facebook on private markets ahead of its IPO, CNNMoney reports.
Specifically, T. Rowe Price and Fidelity are among a number of mutual funds that have reportedly bought up shares on private markets and spread their stake across a number of different funds. At least 16 T. Rowe Price funds hold shares of Facebook, including T. Rowe Price Growth Stock (PRGFX), T. Rowe Price Blue Chip Growth (TRBCX) and T. Rowe Price New America Growth (PRWAX). And more than 30 Fidelity funds including Fidelity Contrafund (FCNTX), Fidelity Growth Company (FDGRX), and Fidelity Diversified International (FDIVX) have exposure to the social media behemoth.
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