FSMD - Fidelity Growth Company Fund Q2 2024 Review
2024-07-29 04:15:00 ET
Summary
- Fidelity Contrafund is a large-cap growth biased equity strategy focused on companies with durable multiyear earnings growth potential.
- Fidelity Growth Company Fund is a domestic equity strategy that invests across a spectrum of companies, from blue chip to aggressive growth.
- For the quarter, the fund's Retail Class shares gained 9.09%, topping the 7.80% advance of the benchmark, the Russell 3000 Growth Index.
- For the quarter, growth shares handily topped value, as the Russell 3000® Value Index returned -2.25% in Q2.
Investment Approach
- Fidelity* Growth Company Fund is a domestic equity strategy that invests across a spectrum of companies, from blue chip to aggressive growth.
- Our investment approach is anchored by the philosophy that the market often underestimates the duration of a company's growth, particularly in cases where the resiliency and extensibility of the business model are underappreciated.
- We focus on firms operating in well-positioned industries and niches that we believe are capable of delivering persistent sales and earnings growth.
- This approach typically leads us to companies that we think have the potential to unlock shareholder value through either a growth-enhancing product cycle or an internal catalyst, such as a turnaround or an acquisition.
- We believe it critical that companies fund their own growth - through the cash they generate - and benefit from management teams focused on creating long-term shareholder value.