Three New Funds at Fidelity

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.