October 18, 2016 / 1:10 PM / a year ago

Fidelity Contrafund manager remains bullish on tech's big stars

BOSTON, Oct 18 (Reuters) - Fidelity Contrafund manager Will Danoff, who oversees $109 billion, increased his exposure to tech companies in the third quarter as he continues to largely avoid utilities, telecom and energy stocks.

“Exposure to tech increased this quarter, and it remained the fund’s largest sector allocation in both absolute and relative terms,” according to Contrafund’s investor commentary for the third quarter. “We continue to believe many top companies here have the potential for significant growth.”

Reporting By Tim McLaughlin; Editing by Chizu Nomiyama

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