Toronto-based Fidelity Investments Canada ULC has unveiled two new funds: Fidelity Global Intrinsic Value Class and Fidelity American Balanced Fund. Fidelity Global Intrinsic Value Class is an opportunistic global equities strategy with a particular emphasis on small- and mid-cap stocks. Its goal is to deliver long-term capital growth through a value investment framework. Joel Tillinghast, the fund’s portfolio manager, will use a bottom-up fundamental analysis and an intrinsic value investment philosophy to manage the fund. Salim Hart will assist Tillinghast in managing the fund by using a quantitative analysis to identify global investment opportunities. Tillinghast also will manage Fidelity American Balanced Fund, a growth-focused U.S. balanced fund that invests in a range of equities and fixed-income securities in the U.S. and globally. Generally, 65% of this fund’s will be invested in equities and 35% will be invested in fixed-income and short-term securities. The equities portion of the fund will invest in both Fidelity Global Intrinsic Value Investment Trust (co-managed by Tillinghast and Hart) and Fidelity American Equity Fund, which is managed by Steve MacMillan. Geoff Stein and David Wolf, both Fidelity portfolio managers, will oversee the asset allocation of Fidelity American Balanced Fund. Minimum investment for both new funds is $500. Full fund details (including information on fees) can be found at www.fidelity.ca.
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