November 14, 2007

Three New Funds at Fidelity

More international, and dynamic allocation choices

Fidelity Investments launched three new mutual funds on November 7, joining an already robust mutual fund stable of "as of October 31, 364 mutual funds offered to U.S. investors," according to Sophie Launay, a spokesperson at the Boston-based company.

One of the new funds is a broad international fund that will invest in both emerging and developing, "primarily non-U.S." markets worldwide, according to the announcement: Fidelity Total International Equity Fund will select both growth and value equities, including small-company stocks. Managed by George Stairs and Jed Weiss, the fund will use the MSCI All Country World ex-U.S. Index as its benchmark.

Another new international fund, managed by Weiss, will use the MSCI EAFE Index as its benchmark. The Fidelity International Growth Fund will scan the globe for potentially outperforming growth companies, based on their better than average fundamentals--using price/book, or price/earnings ratios, for example.

Rounding out Fidelity's new fund offerings is Fidelity Dynamic Strategies Fund, a fund-of-funds, plus. It will use "Fidelity funds and non-affiliated exchange-traded funds (ETFs)," as well as individual securities. The fund will allocate assets across the securities spectrum, including "stocks, bonds, short term and money market instruments," and potentially, commodities. Jurrien Timmer and Andrew Dierdorf will manage the fund and use a hybrid benchmark composed of 50% Standard & Poor's 500 Index, 40% Lehman Brothers U.S. Aggregate Index, and 10% Lehman Brothers 3-Month U.S. Treasury Bill Index.

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