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ShareIn our Best of Funds Family series, we are focusing today on funds from Fidelity Investments, the largest US mutual fund company with $1.57 trillion of assets under management. We are spotlighting five equity funds focusing on different sectors; energy, telecom, utilities, technology and raw materials.
Fidelity Select Energy Portfolio (FSENX) seeks long-term capital appreciation. It was incepted in July 1981.
The majority of the fund’s assets are invested in energy sector companies. This covers both the conventional energy sources such as oil, gas, electricity, and coal, and newer alternatives such as nuclear, geothermal, oil shale, and solar power.
The fund has an expense ratio of 0.83% against a category average of 1.72%. As of August 2009, it has a portfolio turnover of 148% against a category average of 104%. The funds top holdings include Occidental Petroleum Corp, Schlumberger Ltd and Southwestern Energy co. In the third quarter of 2009, the Fidelity Select Energy Portfolio returned 20.96%, outperforming the 12.01% return of the MSCI US IM Energy Index.
John Dowd has been lead manager of the fund since May 2006.
Fidelity Select Telecommunications (FSTCX) was incepted July 1985. The fund seeks long term capital growth.
Focusing on telecom companies, the fund invests at least 80% of assets in firms engaged in the development, manufacture, or sale of communications equipment. The fund also invests in communication services companies.
The fund has an expense ratio of 0.97% against a category average of 1.59%. As of August 2009, it has a portfolio turnover of 168% against a category average of 224%. The funds top holdings include Verizon Communications Inc, American Tower Corp and Sprint Nextel Corp. As of August 2009, the investment performance of the fund was lower than its benchmark for the one- and three-year periods.
Kristina Salen has been lead manager of the fund since July 2009. Before joining Fidelity in 2006, Salen was an assistant vice president and equity analyst at Oppenheimer Capital.
Fidelity Select Utilities (FSUTX) seeks capital appreciation. It was incepted in December 1982.
Normally, the fund normally invests the lion’s share of its assets in utilities companies. It also invests in those firms which derive a large portion of their revenue from utilities operations.
The fund has an expense ratio of 0.89% against a category average of 1.39%. As of August 2009, it has a portfolio turnover of 167% against a category average of 100%. The funds top holdings include American Electric Power Co, Firstenergy Corp and Constellation Energy Group. In the third quarter of 2009, Fidelity Select Utilities’ returns outperformed the returns of the MSCI US IM Utilities Index.
Douglas Simmons has been lead manager of the fund since October 2006. Before joining Fidelity in 2003, .Simmons was with Hicks, Muse, Tate & Furst.
Fidelity Select Technology (FSPTX) seeks long term capital growth. It was incepted in July 1981.
The fund invests primarily in companies that develop or offer products, processes, or services that benefit significantly from technological advances and improvements.
The fund has an expense ratio of 0.90% against a category average of 1.84%. As of August 2009, it has a portfolio turnover of 235% against a category average of 176%. The funds top holdings include Apple Inc, Cisco Systems Inc and Microsoft Corp. During the first quarter of 2009, Fidelity Select Technology performed better than the MSCI US IM Technology Index.
Yun-Min Chai has been lead manager of the fund since January 2007. Chai has been with Fidelity since 1997.
Fidelity Select Materials (FSDPX) seeks long term capital growth. It was incepted in September 1986.
The fund normally invests at least 80% of assets in common stocks of companies which are involved in manufacturing, mining, processing, or distribution of raw materials and intermediate goods used in the industrial sector.
The fund has an expense ratio of 0.90% against a category average of 1.84%. As of August 2009, it has a portfolio turnover of 117% against a category average of 170%. The funds top holdings include Dow Chemical Co, Praxair Inc and Dupont De Nemour & Co. The Fidelity Select Materials Portfolio topped the return of the MSCI US IM Materials Index in the third quarter of 2009.
Tobias W. Welo has been lead manager of the fund since January 2008. Welo has been with Fidelity since 2005.
Click here to see all the mutual funds offered by Fidelity.
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Learn more about the new Zacks Mutual Fund Rank and discover some of the best market-beating mutual funds by browsing our mutual funds section. This part of Zacks.com offers a variety of tools, including mutual fund research, a new mutual fund screener, helpful answers to frequently asked questions and quick access to prospectuses and other information.
By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward.
Read the full analyst report on FSENX
Read the full analyst report on FSTCX
Read the full analyst report on FSUTX
Read the full analyst report on FSPTX
Read the full analyst report on FSDPX
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| Market Summary | Feb 10, 2012 15:57 pm ET |
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