Fidelity International Growth Fund Q1 2025 Review

2025-05-06 15:39:00 ET

Summary

• For Q1 2025, Fidelity International Growth Fund's Retail Class shares gained 1.91%, modestly trailing the 2.17% advance of the benchmark MSCI EAFE Growth Index (Net MA).
• Fidelity® International Growth Fund is a diversified international equity strategy with a large-cap growth orientation.
• As the second quarter begins, the global business cycle remains in expansion, with a broad shift toward monetary easing and more unsynchronized trends across major economies.

Investment Approach

• Fidelity® International Growth Fund is a diversified international equity strategy with a large-cap growth orientation.
• Our investment approach targets companies with multiyear structural growth prospects, high barriers to entry and attractive valuations based on our earnings forecasts.
• Investment ideas typically fall into three main categories: structurally attractive growth themes, where investors may be underestimating the durability of growth drivers and long-term earnings power; cyclically out-of-favor companies with limited competition and pricing power, where investors may be focusing on near-term cyclical concerns and discounting long-term prospects; and companies with strong earnings potential whose share prices have fallen due to macroeconomic events.
• We strive to uncover these companies through in-depth fundamental analysis, working in concert with Fidelity's global research team, with the goal of capturing market upside while limiting downside participation.

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