Fidelity Investments has filed with the Securities and Exchange Commission to offer the Fidelity Small Cap Opportunities Fund, an investment vehicle that will use both growth and value strategies in both the U.S. and abroad.
The fund will be managed by Lionel Harris, who also runs the Fidelity Small Cap Growth Fund. Morningstar analyst Dan Lefkovitz tells TheStreet.com that Harris has delivered impressive returns for the fund since he began running it in April 2005.
However, Fidelity may be late to the small-cap party, Lefkovitz adds, and Lefkovitz may have a hard time finding investment opportunities since Fidelity already runs so many small-cap funds and has had to close a number of them or change their investment mandate to mid-cap.
“Over the past five years, we’ve seen a lot of small-cap funds, domestic and foreign, close, which can be taken as a sign that the asset class has done very well, but it might not be the time to invest,” Lefkovitz said.
The staff of Money Management Executive ("MME") 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 MME, and have not prepared, sponsored, endorsed, or approved these summaries.