Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Products March 11, 2009
Fidelity Tacks on Advisor Fund Additions
Fidelity Investments launched three new Fidelity Advisor Funds: Fidelity Advisor Global Balanced Fund, Fidelity Advisor Worldwide Fund, and Fidelity Advisor Convertible Securities Fund.
Reported by Fred Schneyer
A Fidelity news release said the funds will offer Institutional shares as well as Class A, T, B, C shares.
According to the news release:
- The Fidelity Advisor Global Balanced Fund might appeal to investors who are looking for global equity and fixed-income exposure through a single investment. Co-managed by 12-year Fidelity veteran Ruben Calderon and 11-year Fidelity veteran Derek Young, the fund seeks income and capital growth consistent with reasonable risk by investing in equity and debt securities issued anywhere in the world and invests at least 25% of total assets in fixed-income senior securities, including debt securities and preferred stock.
- The Fidelity Advisor Worldwide Fund might appeal to investors looking for all-in-one global equity diversification. The fund seeks growth of capital by investing primarily in common stocks issued anywhere in the world and allocating investments across countries and regions considering the size of the market in each country and region relative to the international market as a whole. It is managed by 13-year Fidelity veteran William Kennedy (lead manager and responsible for non-U.S. equity) and 15-year Fidelity veteran Stephen DuFour (co-manager and responsible for U.S. equity subportfolio).
- The Fidelity Advisor Convertible Securities might appeal to investors looking for growth potential, regular income and diversification. Managed by 19-year Fidelity veteran Tom Soviero, the fund seeks a high level of total return through a combination of current income and capital appreciation by normally investing at least 80% of assets in convertible securities and potentially investing in other types of securities, including common stocks.
“By investing in a range of asset classes and geographical areas, and focusing on long-term investment objectives, advisers can mitigate risks and add significant value to a client’s portfolio,” said Martha B. Willis, executive vice president, Fidelity Investments Institutional Services Company, in the release.