Toronto-based Fidelity Investments Canada ULC on Wednesday introduced Fidelity Founders Class, which will be led by portfolio manager Daniel Kelley.
Fidelity Founders Class is a core equity strategy focused on investing primarily in founder-led companies worldwide and across the market cap spectrum in both public and private markets.
Fidelity defines a founder-led company as any company where the founder remains in a position of influence, such as CEO, president, C-Suite role, board of directions, or personal or family share ownership.
“Founders are innovative, customer-obsessed and relentlessly committed to driving their business forward and achieving their vision,” says Rob Strickland, president of Fidelity, in a statement.
“These traits often define how entrepreneurs build successful companies that stand the test of time,” he adds. “We are very pleased to launch this truly unique fund in the Canadian marketplace, which will harness the entrepreneurial spirit of founders and seek to deliver long-term value for investors.”
Portfolio manager Kelley also manages Fidelity Trend Fund and Fidelity Advisor Diversified Stock Fund for U.S. investors.
Fidelity Founders Class is also available in a currency neutral version.
The new product joins Fidelity Innovators Suite, which includes Fidelity Global Innovators Class and Fidelity Technology Innovators Fund.