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.
MAR 25, 2009
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.

Latest News

Voya expands advisor managed accounts to add private market assets
Voya expands advisor managed accounts to add private market assets

Voya Financial adds private equity, credit and real estate options to its AMA program, building on support for looser federal investment rules in retirement accounts.

With executives leaving, Osaic’s Reid now in the spotlight
With executives leaving, Osaic’s Reid now in the spotlight

Shannon Reid, president of Osaic and the network’s number two executive, has plenty of challenges, industry executives said.

Investors sue crypto fund and platform, alleging $1.5 million never returned
Investors sue crypto fund and platform, alleging $1.5 million never returned

Auditors flagged the commingling. The COO allegedly knew. Investors kept getting the pitch

Wells Fargo nabs $1.7B RBC advisor team, loses two teams to LPL
Wells Fargo nabs $1.7B RBC advisor team, loses two teams to LPL

The advisors on the move include two brothers leading a family practice in Connecticut, and a husband-and-wife tandem working with business owners in the West Coast.

Most potential business successors think there's a plan – but owners say otherwise
Most potential business successors think there's a plan – but owners say otherwise

Business owners and their heirs may be making assumptions instead of having conversations, creating challenges for succession planning, according to new research.

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income

SPONSORED Why direct indexing stopped being optional

Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.