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Main Street funds in pursuit of unicorns

Fidelity, T Rowe Price, BlackRock and Janus, among others, have been quietly putting shares of private companies like Uber, Pinterest and SpaceX into their investment funds, hoping to lift the returns of certain mutual funds.

WITH Uber now reportedly valued at US$50 billion, there are justifiable worries that some private startup technology companies worth US$1 billion or more - known as unicorns - are in bubble territory.

But don't worry, the thinking goes. Main Street investors won't get hurt as they did