UK - Fidelity Investments has launched the America Earnings Growth Fund, expanding its US institutional product range.
The fund gives exposure to US large caps with strong earnings growth potential.
The fund aims to outperform the S&P500 by 2.5-3%, with a tracking error of 3-6%.
The fund will be managed by Karen Firestone, who has managed money at Fidelity for 18 years, with the last five years specifically focused on earnings growth investment.
Commenting on the fund, Anna Roads, Fidelity’s head of research and product development, said: “The launch of the America Earnings Growth Fund completes our range of US funds for institutional clients.
“It is a medium risk/return product that aims to deliver in excess of 2.5% pa over the longer term. It sits between our other US funds, Institutional Large Cap and US Select.”
Fidelity’s earnings growth discipline has a 21-year history and invests in large cap companies that fulfil three basic criteria including projected long-term earnings growth of 10%+ pa; attractive valuation in relation to their earnings growth; strong momentum over one year.
Roads added: “The team has a strong and consistent long term performance history which I am sure will prove attractive to clients wishing to invest in the US or to diversify their existing US investment.”
Assets under management for this discipline in the US currently stands at nearly US$8bn for institutional clients.
The fund is denominated in £Sterling. Fees are set on an initial 80bp.
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