Fidelity Investments is considered one of the leaders in the financial services industry with presence in eight countries of North America, Europe, Asia and Australia, and more than 400 research professionals. The company carries out operations in the United States through 10 regional offices and over 180 Investor Centers. The company provides investment advice, discount brokerage services, retirement services, wealth management services, securities execution, and clearance and life insurance products to its clients. It serves more than 24 million individual investors.
Fidelity had total assets of $6 trillion, with $2.3 trillion under management. The company manages over 200 mutual funds across a wide range of categories including both domestic as well as foreign funds, and equity and fixed income funds.
Below we share with you three top-ranked Fidelity mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of Fidelity funds, their Zacks Rank and past performance.
Fidelity Select Technology (FSPTX - Free Report) seeks capital growth over the long run. FSPTX invests a large chunk of its assets in common stocks of companies primarily involved in production, development and sale of products used for technological advancement. The fund invests in both U.S. and non-U.S. companies. Factors including financial strength and economic condition are considered before investing in a company. Fidelity Select Technology Portfolio is non-diversified and has three-year annualized returns of 20.8%.
Charlie Chai is the fund manager and has managed FSPTX since 2007.
Fidelity Equity-Income Fund (FEQIX - Free Report) seeks reasonable income and capital appreciation. FEQIX normally invests at least 80% of assets in equity securities. The fund also invests primarily in income-producing securities that tend to lead to investments in large capital, value stocks. It also invests in domestic and foreign issuers. Fidelity Equity-Income Fund has three-year annualized returns of 8.2%.
FEQIX has an expense ratio of 0.62% compared with the category average of 1.04%.
Fidelity Growth Company (FDGRX - Free Report) invests primarily in common stocks. FDGRX invests in companies that have above-average growth potential, while the advisor uses fundamental analysis of factors including each issuer's financial status and industry position, as well as market and economic conditions to select investments. FDGRX invests in both domestic and foreign issuers. Fidelity Growth Company has three-year annualized returns of 16.7%.
As of July 2017, FDGRX held 385 issues with 7.44% of its total assets invested in NVIDIA Corp.
To view the Zacks Rank and past performance of all Fidelity mutual funds, investors can click here to see the complete list of funds.
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