New Fidelity Canada funds offer access to renowned U.S. manager

“Joel Tillinghast is one of Fidelity’s most tenured and distinguished portfolio managers. Over his 25-year career he has delivered impressive investment results for unitholders as well as receiving numerous industry awards and accolades,” says Rob Strickland, president, Fidelity Canada.

“Joel has been named Fund Manager of the Year by both The Street and Morningstar U.S. In 2007, MarketWatch named him “Stock-Picker of the Decade”. In July 2009, Smart Money Magazine named him among the ‘world’s greatest investors’.”

Fidelity Global Intrinsic Value Class, managed by Tillinghast, is an opportunistic global equity strategy that can invest in companies across the market cap spectrum with a particular emphasis on small- and mid-cap stocks.

The new product aims to deliver long-term capital growth through a value investment framework which seeks to identify high-quality companies that the portfolio management team believes can compound returns over time by growing their intrinsic worth.

Backed by Fidelity’s worldwide research resources, Tillinghast searches the globe for companies undervalued by the market by using bottom-up fundamental analysis and an intrinsic value investment philosophy that he has employed for a number of years. He will also be supported by portfolio manager Salim Hart, who uses quantitative analysis to help identify global investment opportunities.

Fidelity American Balanced Fund is a new growth-focused U.S. balanced solution that will combine the expertise of some of Fidelity’s most distinguished portfolio managers. The fund will aim to achieve long-term growth by investing across a range of equities and fixed-income securities in the U.S. and around the world.

Managed by Fidelity’s leading portfolio managers and backed by the firm’s broad global research and resources network, the fund will offer a tactical mix of equity and fixed-income securities, with a bias toward equities to provide the potential for higher returns.

The fund generally invests 65% in equities and 35% in fixed-income and short-term securities. The equity portion will invest in Fidelity American Equity Fund managed by Steve MacMillan and Fidelity Global Intrinsic Value Investment Trust managed by Tillinghast and Hart. Experienced Fidelity portfolio managers Geoff Stein and David Wolf will manage the overall asset allocation of the fund.

“The new Fidelity American Balanced Fund is a good choice for investors looking for a balanced investment solution to access the U.S. and global markets. The portfolio management horsepower on this fund – Joel Tillinghast, Steve MacMillan, Geoff Stein, David Wolf plus Fidelity’s team of fixed-income experts − is unrivalled in the Canadian marketplace,” says Strickland.