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The Markets November 7, 2007
New Fidelity Funds Broaden Domestic and International Offerings
Fidelity Investments announced the launch of three new mutual funds: a one-fund solution for investing in developed international and emerging markets; an international style-consistent growth fund, and an asset allocation fund.
Reported by Rebecca Moore
The Fidelity Total International Equity Fund is a broad-based, international equity fund with dedicated exposure to developed and emerging markets, including investments in growth and value stocks, and securities of small companies. Fidelity Total International Equity Fund seeks long-term growth of capital and invests primarily in non-U.S. securities, using the MSCI All Country World ex-U.S. Index as a guide in allocating assets across foreign developed and emerging markets, including investments in growth stocks, value stocks, and securities of companies with small capitalizations.
The Fidelity International Growth Fund allocates investments across different countries and regions of the world, and is managed with a consistent growth orientation. Fidelity International Growth Fund seeks long-term growth of capital and invests primarily in non-U.S. securities, relying on fundamental analysis to identify companies that management believes have above-average growth potential, the announcement said.
The fund’s benchmark index is the MSCI EAFE Growth Index, and the fund’s investment universe includes companies that may exhibit higher-than-average price-to-earnings or price-to-book ratios compared with the broad international market or the MSCI EAFE Index.
The Fidelity Dynamic Strategies Fund, an asset allocation fund, has the ability to invest in a wide range of underlying investments and it is expected to make more aggressive asset allocation shifts than Fidelity’s existing asset allocation funds. Fidelity Dynamic Strategies Fund seeks to maximize total return by allocating assets among stocks, bonds, short-term, and money market instruments. It may also make investments that do not fall within these asset classes such as commodities and commodities-linked investments.
The fund is managed with a top-down approach, consisting of fundamental, technical and quantitative investment disciplines, and seeks to take advantage of strategic, longer-term opportunities as well as shorter-term market opportunities. Dynamic Strategies Fund primarily invests in a combination of Fidelity funds and unaffiliated exchange-traded funds (ETFs), and may also invest directly in individual securities.
The three new funds are available directly to investors, as well as through advisers at banks, insurance companies and broker/dealers via Fidelity Advisor Total International Equity, Fidelity Advisor International Growth, and Fidelity Advisor Dynamic Strategies funds (Classes A, T, B, C. and Institutional).
More information is available at https://advisor.fidelity.com and www.fidelity.com.