Fidelity launches a FAST US Fund
We are very pleased to announce that we are further expanding our successful range of Fidelity Active STrategy (FAST) funds with the launch of a FAST US fund. The launch of the fund provides leading US equity portfolio manager Adrian Brass with the opportunity to express his views more fully through the flexible FAST framework which allows him to take both long and short positions.
Net equity exposure in FAST US will be in the range of 90%-110% under normal market conditions and the manager also has the flexibility to short unattractive stocks up to a maximum of 30% of the fund’s assets. The fund will hold 60-80 positions in the long component and 15-30 in short positions.
Supported by Fidelity’s extensive and dedicated US research team based in London, which now stands at 17 analysts, this gives the portfolio manager more opportunities to both add alpha and manage risk.
Adrian has over 17 years of investment experience, including more than 12 years investing in the US market. He has managed the $2.8bn Fidelity Funds America Fund since 1 January 2008 and has generated strong performance, outperforming the fund’s benchmark the S&P 500 by 3.1% net of fees and beating 92% of its competitors over his tenure.
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