Fidelity International Capital Appreciation Fund Q4 2024 Review

2025-03-11 11:54:00 ET

Summary

• For the final quarter of 2024, the fund returned -5.12%, outpacing the -7.58% result of the benchmark MSCI All Country World Index ex USA (Net MA) Index.
• The portfolio's three largest individual overweights at the end of 2024 were InterContinental Hotels Group, LVMH Moet Hennessy Louis Vuitton and SAP.
• Shares of the firm rose in the fourth quarter, driven by solid earnings (year-over-year growth of 14%) and revenue (+12%), along with a positive consumer spending outlook.

Investment Approach

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