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Products December 18, 2013
Fidelity Launches Event Driven Fund
Fidelity Investments launched the Fidelity Advisor Event Driven Opportunities Fund for financial advisers and defined contribution plan sponsors as an investment-only option.
Reported by PLANADVISER staff
The actively-managed mutual fund seeks to uncover mispriced securities of companies due to special situation events such as spin-offs, index deletions, mergers and acquisitions, companies undergoing reorganizations, proxy fights, 13D filings and other special situations.
According to Fidelity, unlike funds managed against a specific sector, market capitalization or style, the fund can “go anywhere” in the market, based on special situation events, leading to potentially lower correlations to the broad equity market. The fund is a nondiversified strategy that will primarily invest in common stocks, but also have the flexibility to invest a portion of assets in bonds, including high yield.
More information about the Advisor Event Driven Opportunities Fund can be found here. Details are also available by calling 800-544-9999.
Fidelity Investments is a provider of financial services.