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Fidelity goes for industry

The global industrials sector is being targeted by the new industrials fund from Fidelity.

The product is a Luxemburg domiciled Sicav sub fund that seeks long term growth. It is aimed at investors who want to add an industrial based fund to their portfolio to provide a stable core investment.

The industrials fund will invest in companies that are involved in the mining, transport, chemical, construction and oil industries. It could invest in companies such as Exxon Mobil, Shell, Toyota and Ford and will benchmark the FTSE global cyclical sector index.

Up to 38.7 per cent of the fund will invest in North American companies, 23.6 per cent in European companies, 11.4 per cent in UK companies and 18.6 per cent in Japanese companies. The remaining 7.7 per cent of the fund will invest in other areas.

Companies in the global industrials sector like Toyota, Shall and Ford have a stability that other sectors such as technology lack. But the only downside to the global industrials sector currently is the global rise in oil prices, which could have a knock-on effect on the industrial sector, as so many companies are reliant on it.

According to Standard & Poor’s the Fidelity funds PS growth fund is ranked 35 out of 273 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years, to September 1, 2000.


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