Fidelity Offers New International Equity Fund

Fidelity has launched a new international stock fund, the Fidelity International Value Fund. The portfolio will be invested in undervalued foreign securities, bringing Fidelity's total line up of international funds to 20.

Fidelity is offering share classes both to individual investors and financial advisers.

While most international funds are growth-oriented, the value play is a slightly different wrinkle, Morningstar Analyst Dan Lefkovitz told Reuters. "So far, most of the international funds seem to be quite similar," he said.

George Stairs will manage the fund. He joined Fidelity a year ago from Putnam Investments, where he was portfolio manager of the Putnam International Growth and Income Fund.