(Bloomberg) -- Fidelity Investments is reviewing its relationship with billionaire money manager Ken Fisher in the wake of offensive remarks he made at an industry conference.

“We are very concerned about the highly inappropriate comments by Kenneth Fisher,” a Fidelity spokesman said in a statement Tuesday. “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 and Fidelity Strategic Advisers is reviewing this relationship.”

Fisher Investments manages about $500 million for Fidelity Strategic Advisers, which oversees managed accounts.

Reuters earlier reported the news.

To contact the reporter on this story: Michael McDonald in Boston at mmcdonald10@bloomberg.net

To contact the editors responsible for this story: Alan Mirabella at amirabella@bloomberg.net, Vincent Bielski

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