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TSM - Fidelity Diversified International Fund Q1 2025 Commentary
Taiwan Semiconductor Manufacturing Company Ltd.
2025-05-05 10:35:00 ET
Summary
Fidelity® Diversified International Fund seeks long-term capital growth by investing in high-quality foreign developed market stocks with durable growth prospects and competitive advantages.
The fund gained 5.15% in Q1, underperforming the MSCI EAFE Index's 6.94% due to stock selection, particularly in the information technology sector.
Top contributors included Thales (+85%) and UniCredit (+40%), while Marvell Technology (-43%) and Taiwan Semiconductor Manufacturing (-16%) were major detractors.
The fund is optimistic about growth in AI, onshoring, green energy, and infrastructure, focusing on companies with strong balance sheets and management teams.