SHECF - Fidelity Diversified International Fund Q2 2024 Review
2024-07-30 13:35:00 ET
Summary
- Fidelity Contrafund is a large-cap growth biased equity strategy focused on companies with durable multiyear earnings growth potential.
- Fidelity Diversified International Fund is a broadly diversified international equity strategy that seeks capital growth by investing primarily in stocks from foreign developed markets.
- For the second quarter, the fund's Retail Class shares gained 0.23%, outpacing the -0.30% result of the benchmark, the MSCI EAFE Index.
- The fund's outperformance of the benchmark in Q2 was due to sector positioning and stock selection.
Investment Approach
- Fidelity® Diversified International Fund is a broadly diversified international equity strategy that seeks capital growth by investing primarily in stocks from foreign developed markets.
- We manage the fund with a long-term view, focusing on high-quality businesses with durable or improving growth prospects that are benefiting from competitive advantages and are structured to achieve consistent profitability. We also value strong balance sheets, proven track records, high returns on capital and solid management teams whose interests are aligned with those of shareholders.
- We strive to uncover these companies through in-depth fundamental analysis, working in concert with Fidelity's global research team. While conscious of valuations, we may be willing to pay a slight premium for stocks we favor.
- Our disciplined investment process results in a style-consistent strategy that participates in the market in a risk-managed manner.