If you've been stuck searching for Mutual Fund Equity Report funds, consider Fidelity Asset Manager 40% (FFANX Quick QuoteFFANX - Free Report) as a possibility. FFANX bears a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.

History of Fund/Manager

FFANX is a part of the Fidelity family of funds, a company based out of Boston, MA. Fidelity Asset Manager 40% made its debut in October of 2007, and since then, FFANX has accumulated about $1.49 billion in assets, per the most up-to-date date available. Geoffrey Stein is the fund's current manager and has held that role since June of 2009.

Performance

Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 4.03%, and is in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 3.6%, which places it in the top third during this time-frame.

It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, FFANX's standard deviation comes in at 9.5%, compared to the category average of 16.18%. Over the past 5 years, the standard deviation of the fund is 9.55% compared to the category average of 14.17%. This makes the fund less volatile than its peers over the past half-decade.

Risk Factors

With a 5-year beta of 0.48, the fund is likely to be less volatile than the market average. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. With a negative alpha of -2.25, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Expenses

As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, FFANX is a no load fund. It has an expense ratio of 0.52% compared to the category average of 0.86%. From a cost perspective, FFANX is actually cheaper than its peers.

Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.

Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.

Bottom Line

Overall, Fidelity Asset Manager 40% ( FFANX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Fidelity Asset Manager 40% ( FFANX ) looks like a good potential choice for investors right now.

Don't stop here for your research on Mutual Fund Equity Report funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare FFANX to its peers as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.