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Fidelity Launches Three Advisor Funds
A Fidelity news release said five share classes of Fidelity Advisor International Real Estate, Fidelity Advisor Canada, and Fidelity Advisor Small Cap Independence funds will be offered through institutional advisers.
“Creating a well-diversified portfolio for clients is the primary goal of any successful financial adviser,’ said Martha B. Willis, Executive Vice President, Fidelity Investments Institutional Services Company, in the news release. “By investing in a range of asset classes and geographical areas, advisers can add significant value to a client’s portfolio by mitigating risk through diversification and focusing on long-term investment objectives.
Fidelity Advisor International Real Estate Fund, managed by Steve Buller, seeks capital appreciation and will invest primarily in non-U.S. securities, with at least 80% of fund assets in securities of companies principally engaged in the real estate industry and other real estate related investments, according to the news release. The fund will allocate investments across different countries and regions relative to the size of the international real estate securities market. Its benchmark is the MSCI EAFE Index and the performance benchmark is the EPRA/NAREIT Index.
Meanwhile, according to Fidelity, Fidelity Advisor Canada Fund seeks growth of capital over the long term and normally invests at least 80% of assets in securities of Canadian issuers and other investments that are economically tied to Canada. The fund may invest up to 35% of total assets in any industry that accounts for more than 20% of the Canadian market. The fund’s benchmark is the S&P/TSX Composite Index. Maxime Lemieux is the manager of Fidelity Advisor Canada Fund.
Fidelity Advisor Small Cap Independence Fund seeks capital appreciation and normally invests in domestic and foreign issuers. The fund invests at least 80% of total assets in securities of companies with small market capitalization (those with market capitalization similar to companies in the Russell 2000 Index and the S&P SmallCap 600 Index) and uses fundamental analysis to invest in either “growth’ stocks, “value’ stocks or both. The fund’s benchmark is the Russell 2000 Index.