Fidelity Investments earlier this month launched the Fidelity Stock Selector Mid Cap Fund to bet on domestic and foreign growth or value stock issuers.
Fidelity’s Stock Selector funds series use groups of sector managers who invest each fund’s assets across sub-portfolios based on the 10 sectors in the Global Industry Classification Standard scheme, such as health care, technology and energy, and in some cases sub-industries of the GICS.
The fund sports an expense ratio of 69 basis points.
“The Stock Selector approach is an extension of Fidelity’s strength and heritage in stock picking,” stated Joseph DeSantis, chief investment officer, Fidelity’s Equity Group. “Harnessing the work of the more than 700 Fidelity investment professionals located around the globe, in combination with their deep sector specific expertise, the eight portfolio managers on Fidelity Stock Selector Mid Cap Fund, focus their efforts on constructing more concentrated security exposure in each sector they manage.”