Fidelity Investments launched the Fidelity 130/30 Large Cap Fund, which will be managed by Keith Quinton, using a combination of Fidelity’s research and fundamental quantitative models to select long and short investment ideas. The portfolio will measure its performance against the S&P 500 while maintaining market-capitalization and style exposures similar to that of the index.
…Franklin Templeton Investments introduced the Franklin India Growth Fund, which will seek long-term capital appreciation by investing primarily in equity securities of companies based in India, companies that derive a majority of their revenues or profits from the Indian economy, or companies with a majority of their assets in India. Stephen Dover, managing director and international CIO for Franklin’s Local Asset Management groups, will serve as lead portfolio manager.