With over $1.5 trillion of assets under management and a wide variety of mutual funds spanning across a wide spectrum of sectors, Fidelity Investments is one of the largest mutual fund companies in the world. The company provides investment advice, discount brokerage services, retirement services, wealth management services, securities execution and clearance and life insurance products to its clients. At Fidelity, nearly 1000 investment professionals carry out extensive and in-depth research to provide potential investment avenues worldwide for their investors.

Below we will share with you 5 top rated Fidelity mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect these mutual funds to outperform their peers in the future. To view the Zacks Rank and past performance of all Fidelity funds, investors can click here to see the complete list of funds.

Fidelity Growth Company ( ) focuses on acquiring common stocks. The fund looks to purchase equity securities of companies with the potential to deliver superior growth. It invests in both domestic and foreign securities. The fund has a three year annualized return of 24.64%. .

Steven S. Wymer is the fund manager and he has managed this Fidelity mutual fund since December 1996.

Fidelity Select Energy Services ( FSESX - MF report ) seeks capital growth. The fund invests a large proportion of its assets in companies whose primary operations are in the energy services domain. These companies could provide services to both conventional and alternative energy firms. It may also purchase foreign securities. The fund has a three year annualized return of 16.51%.

The Fidelity mutual fund has a minimum initial investment of $2,500 and an expense ratio of 0.78% compared to a category average of 1.73%.

Fidelity Select Medical Delivery ( FAGAX - MF report ) invests in firms engaged in the delivery of health care services. Such companies include those which manage hospitals, nursing homes health maintenance organizations and other firms focusing on delivery of healthcare services. The fund may also seek to acquire foreign securities. The fund has a three year annualized return of 26.06%.

As of March 2012, this Fidelity mutual fund held 217 issues, with 8.87% of its total assets invested in Apple, Inc.

Fidelity New Markets Income ( FNMIX - MF report ) primarily seeks high current income by investing a large proportion of its assets in emerging market securities and other instruments related to such markets. It is a non diversified fund and may also invest in other instruments. The fund has a three year annualized return of 17.32%.

John H. Carlson is the fund manager and he has managed this Fidelity mutual fund since December 1995.

Fidelity Real Estate Investment ( FRESX - MF report ) invests predominantly in common stock of both domestic and foreign companies primarily in the real estate industry. It follows a fundamental top-down stock picking technique by an in-depth analysis of the economy, industry and company (EIC) specific factors. The fund has a three year annualized return of 35.57%.

The Fidelity mutual fund has a minimum initial investment of $2,500 and an expense ratio of 0.85% compared to a category average of 1.38%.

To view the Zacks Rank and past performance of all Fidelity mutual funds, investors can click here to see the complete list of funds.

About Zacks Mutual Fund Rank

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. Learn more about the Zacks Mutual Fund Rank at http://www.zacks.com/funds.