Fidelity Investments is considered one of the leaders in the financial services industry with presence in eight countries across North America, Europe, Asia and Australia, and more than 400 research professionals. The company carries out operations in the United States through 12 regional offices and more than 200 Investor Centers.
Fidelity offers investment advice, discount brokerage services, retirement services, wealth management services, securities execution, and clearance and life insurance products. It serves more than 37 million individual investors.
At Fidelity, a large group of investment professionals carries out extensive and in-depth research to guide investors on potential investment avenues worldwide. Fidelity had total assets of about $10.4 trillion under management (as of Mar 31, 2021). The company manages more than 504 mutual funds across a wide range of categories, including 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 peers in the future. Investors can click here to see the complete list of funds.
Fidelity Value Discovery Fund Class K FVDKX aims for capital appreciation. The fund invests majority of assets in common stocks of companies that the fund manager believes are undervalued in the marketplace in relation to factors such as assets, sales, earnings, growth potential, or cash flow, or in relation to securities of other companies in the same industry. FVDKX has returned 13.1% in the past three years.
As of the end of March 2021, FVDKX held 100 issues, with 3.98% of its assets invested in Berkshire Hathaway Inc Class B.
Fidelity Blue Chip Growth Fund FBGRX seeks capital appreciation. The fund invests majority of assets in blue-chip companies. The fund, which primarily focuses on established and well-known companies, invests in securities of both U.S. and non-U.S. issuers. FBGRX has three-year annualized returns of 31.6%.
FBGRX has an expense ratio of 0.79% compared with the category average of 1.00%.
Fidelity Select Banking Portfolio FSRBX fund aims for appreciation of capital. The fund normally invests at least 80% of assets in common stocks of companies principally involved in banking. FSRBX has three-year annualized returns of nearly 9%.
Matt Reed has been the fund manager of FSRBX since 2016.
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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