When Fidelity talks, people listen, so when the nations biggest mutual fund company released its March monthly report yesterday, newshounds were quick to analyze changes to its holdings.
The $4 billion Fidelity Aggressive Growth fund pared back its technology holdings while increasing its health care equipment and supplies stocks to 24.2%, Reuters reports. Consumer stocks now are the funds second-biggest holding, and information technology comes in at third.
Fund manager Rajiv Kaul has continued to pare back on technology since taking over the helm in October, Reuters reports. At that time, the sector comprised nearly 42% of the fund, whereas thats a mere 15% today.
Dow Jones, meanwhile, focuses on Fidelitys flagship Magellan fund, finding that it has made few changes. Financial stocks make up 23% of this fund, following by 18% in consumer discretionary stocks and 16% in health care figures that have held steady since the end of last year. Information technology, Magellans fourth-largest sector, comprises 11% of the $54.2 billion fund.
The staff of Mutual Fund Market News ("MFMN") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MFMN, and have not prepared, sponsored, endorsed, or approved these summaries.