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Fidelity goes for neutral style

Fidelity Investments has added a specialist global equity fund to its Fidelity Funds Sicav range.

The Fidelity Funds global focus fund will invest in between 100 and 150 stocks. The MSCI World Index will be used as a guide when constructing the portfolio, but the fund will not be restricted by sector or geographic weightings.

Fidelity&#39s director of European research, Brenda Reed, will manage the fund. Reed joined Fidelity in 1992 as a US equity analyst after gaining experience at Boston-based Putnam Investments. She has also managed the Fidelity Japan blue chip, Fidelity Japan and Fidelity Advisers Japan fund.

Reed will take a bottom-up approach to stockpicking and will invest mainly in mid to large-caps. Stockpicking will be made on a style neutral basis, which means that Reed will look for value and growth stocks. On the growth side, she will look for growth at a reasonable price. On the value side, she will look for companies that have declined and look cheap, but look likely to improve in the future

Reed will be supported by Fidelity&#39s team of approximately 400 analysts around the world. Each analyst focuses on a specific sector in a specific country, enabling them to provide Reed with the information she needs to select her best ideas.

This fund could suit investors who already have a lower-risk global fund as a core investment, but who want to increase their potential returns by adding a riskier fund to their portfolio.

According to Standard & Poor&#39s, the Fidelity Funds world fund is ranked 182 out of 436 funds based on £1,000 invested on a bid-to-bid basis with gross income reinvested over three years to December 23, 2002.


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