Fidelity reopens two funds, unveils one

Fidelity Investments said that it will reopen the Fidelity Diversified International Fund (FDIVX) and the Fidelity Small Cap Stock Fund (FSLCX) to new investors March 30 and launch the Fidelity Global Commodity Stock Fund on March 31. The firm closed the $23 billion Fidelity Diversified International Fund in October 2004 and the $1.8 billion Fidelity Small Cap Stock Fund in June 2006. The majority of assets in both funds are earmarked for retirement, Walter Donovan, president of Boston-based Fidelity’s equity division, said in a statement. “We believe reopening the funds will help bring some equilibrium to cash flows,” he said. The Fidelity Global Commodity Stock Fund will invest in U.S. and non-U.S. stocks across a range of industries, including energy, metals and agriculture. The fund will be managed by Joseph Wickwire, who also manages the Fidelity Advisor Gold Fund (FGDIX) and the Fidelity Select Gold Portfolio (FSAGX). Fidelity had assets under custody of $2.4 trillion, including managed assets of nearly $1.2 trillion, as of Feb. 28.