Fidelity Investments launched an actively managed mutual fund focused on founder-led companies.
Fidelity Founders Fund (FIFNX), with retail and advisor share classes, will focus on investing primarily in companies where the founder is either a member of the senior management team or is on the company’s board of directors.
Portfolio manager Dan Kelley, a 14-year Fidelity veteran and an 18-year industry veteran, will use fundamental and quantitative analysis to find what he believes to be mispriced investment opportunities as well as companies with strong earnings growth potential across the market cap spectrum.
“Our research and experience shows us that founder-led companies tend to be more innovative, customer focused, and better generators of shareholder value than companies without founder engagement,” Kelley said in a statement. “However, not every founder is created equal, which is why conducting deep fundamental analysis and rigorous on-the-ground research is crucial in seeking to deliver the best long-term value to shareholders.”
The analysis will include evaluating growth potential, valuation, liquidity, and investment risk, along with fundamental analysis of factors such as each issuer’s financial condition, its industry position, and market and economic conditions to select investments.
The fund has a net expense ratio of 1%.
Franklin Templeton Introduces Low-Cost Regional and Country ETFs in Canada
Franklin Templeton has expanded its Franklin LibertyShares ETF offerings with its first suite of passive ETFs listed in Canada, providing investors exposure to a specific region or country at a low fee.
The management fees for these new Canada, United States, Japan and Europe (excluding U.K.) passive ETFs range between 5 to 9 basis points and the ETFs are traded on the Toronto Stock Exchange.
The Franklin FTSE Canada All Cap Index ETF (FLCD), with a management fee of 5 bps, invests primarily in equity securities of Canadian issuers, seeking to replicate the performance of FTSE Canada All Cap Domestic Index.
The Franklin FTSE U.S. Index ETF (FLAM), which invests primarily in equity securities of mid- and large-cap U.S. issuers, tracks the performance of FTSE USA Index and has a management fee of 7 bps.
The Franklin FTSE Japan Index ETF (FLJA), which seeks to replicate the performance of FTSE Japan Index, invests primarily in equity securities of mid- and large-cap Japanese issuers and has a management fee of 9 bps.
The Franklin FTSE Europe ex U.K. Index ETF (FLUR), which also has a management fee of 9 bps, tracks the performance of FTSE Developed Europe ex U.K. Index. It invests primarily in equity securities of mid- and large-cap issuers in developed markets in Europe excluding the U.K.