Fidelity Investments is one of the largest and oldest mutual fund companies in the world. The company serves more than 24 million individual customers. As of December 31, 2015, Fidelity had total assets of $5.2 trillion with $2.1 trillion under management. Fidelity Investments carries out operations in the U.S. through 10 regional offices and over 180 Investor Centers. It also has its presence in eight other countries of North America, Europe, Asia and Australia.
The company provides investment advice, discount brokerage services, retirement services, wealth management services, securities execution and clearance and life insurance products to its clients. At Fidelity, a large group of investment professionals carry out extensive and in-depth research on potential investment avenues worldwide.
Below we share with you three top-ranked Fidelity mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of Fidelity funds, their Zacks Rank and past performance.
Fidelity Select Software & IT Services Portfolio No Load (MUTF:FSCSX) invests a major portion of its assets in companies whose primary operations are related to software or information-based services. It primarily focuses on acquiring common stocks of both domestic and foreign companies. FSCSX uses fundamental analysis to select companies for investment purposes. The fund has a three-year annualized return of 15.9%.
FSCSX has an expense ratio of 0.76% as compared to a category average of 1.51%.
Fidelity Strategic Dividend & Income Fund No Load (MUTF:FSDIX) seeks reasonable income. It invests a large portion of its assets in equity securities. FSDIX invests half of its assets in common stocks, 15% in REITs, 15% in convertible securities and the rest in preferred stocks. It invests in both domestic and foreign issuers. The fund has a three-year annualized return of 8.8%.
As of June 2016, FSDIX held 301 issues, with 3.32% of its assets invested in Johnson & Johnson (NYSE:JNJ).
Fidelity Select Gold Portfolio No Load (MUTF:FSAGX) invests heavily in companies whose principal operations are related to gold as well as in bullion or coins. A maximum of 25% of its assets are invested in precious metals via a wholly owned subsidiary. FSAGX focuses on acquiring common stocks of firms involved in exploration, mining, processing or dealing in gold, or to a lesser degree, in silver and other precious metals. The fund has a three-year annualized return of 11.1%.
Joe Wickwire is the fund manager of FSAGX since 2007.