Fidelity
Investments Introduces Advisor Mega Cap Stock Fund
Fidelity Investments
VIP Emerging Markets Portfolio Also
Launched
As Investment Option for Third-Party Insurance Companies' Annuity Products
BOSTON, February 21, 2008 -- Fidelity Investments
today announced the availability of Fidelity Advisor Mega Cap Stock Fund
(Class A, T, B, C and Institutional), providing financial advisors and
their clients access to a fund with dedicated mega cap exposure. With the
addition of this fund, Fidelity now offers advisors at institutions such
as brokerage firms, banks, and insurance companies access to a family of
more than 115 Advisor funds.
The fund seeks high total return through a combination
of current income and capital appreciation. Managed by Rick Mace, the fund
normally invests at least 80 percent of its assets in common stocks of
companies with mega market capitalizations, defined for purposes of this
fund as companies whose market capitalization is similar to companies in
the Russell Top 200® Index or S&P 100®
Index.
"We launched the Fidelity Advisor Mega Cap Stock
Fund to give advisors the ability to provide their clients with dedicated
mega cap exposure that can complement the broader large cap exposure
they're currently invested in," said Marty Willis, executive vice
president, Fidelity Investments Institutional Services Company. "The
addition of Fidelity Advisor Mega Cap Stock Fund further reinforces
Fidelity's commitment to providing advisors with the industry's broadest
advisor-sold fund family."
"What makes this fund different -- beyond its
dedicated mega-cap mandate -- is that we build the portfolio from the
bottom up using four distinctly different inputs into the stock selection
process," said Mace. "The process integrates Fidelity's
traditional fundamental analysts' research, insights from Fidelity's
technical research, a suite of quantitative models adapted specifically
for use with mega-cap stocks, and a macro or top-down perspective."
Mace began managing Fidelity Mega Cap Stock Fund
(formerly known as Fidelity Growth & Income II Portfolio) in November
2007. He joined Fidelity in 1987 as an equity research analyst intern
covering the appliance industry and, in 1988, became a full-time analyst.
As an analyst, he followed a number of sectors and managed several of
Fidelity's sector funds including Fidelity Select Transportation
Portfolio, Fidelity Select Industrial Materials Portfolio, and Fidelity
Select Chemicals Portfolio. Mace also managed Fidelity International Value
Fund from 1994 to 1999 and Fidelity International Growth & Income Fund
from 1994 to 1996. In 1996, he assumed group leader responsibilities for
the International Group and began managing Fidelity Overseas Fund,
Fidelity Advisor Overseas Fund, and Fidelity Global Balanced Fund, all of
which he managed until 2005. Mace managed Fidelity Worldwide Fund from
2001 to 2005 and co-managed Fidelity Global Opportunities Fund from 2004
to 2005. He also managed Fidelity Aggressive International Fund, Fidelity
Advisor International Capital Appreciation Fund and VIP International
Capital Appreciation Portfolio from September 2005 until December 2005.
Fidelity VIP Emerging Markets Portfolio
Fidelity also introduced VIP Emerging Markets
Portfolio to its line up of Variable Insurance Products (VIP) portfolios.
VIP portfolios are investment options available exclusively through
insurance companies' variable products.
Managed by Robert von Rekowsky, VIP Emerging Markets
Portfolio seeks capital appreciation, normally invests primarily in common
stocks, and normally invests at least 80 percent of assets in securities
of issuers in emerging markets and other investments that are tied
economically to emerging markets. VIP Emerging Markets Portfolio will be
benchmarked against the MSCI Emerging Markets IndexSM
(MSCI EM).
Von Rekowsky will continue to manage Fidelity Emerging
Markets Fund and Fidelity Advisor Emerging Markets Fund, for which he
assumed responsibilities in 2004. He also manages several emerging markets
strategies available exclusively to institutional, Canadian and overseas
investors. Von Rekowsky joined Fidelity's Fixed-Income Division in 1989
and served as a global research associate and municipal bond trading
administrator. In 1995, he joined Fidelity's High-Income Division and
served as a sovereign debt analyst until 1998, when he moved to London to
work as an equity analyst for Fidelity International, Ltd. (FIL). In 2002,
he became an associate portfolio manager overseeing the European, Middle
Eastern and African equities within Fidelity Emerging Markets Fund. He
also began managing several emerging markets funds available exclusively
to Canadian and overseas investors. He served as an equity research
analyst covering emerging markets stocks from 1998 to 2003.
VIP Emerging Markets Portfolio gives insurance
companies additional choice and opportunity when allocating their clients'
assets among international funds.
"We've found that advisors are taking a long-term
view with emerging markets investments," said Willis. "They
recognize not only the growth in the economies and consumer sectors of
many these countries, but also the volatility inherent in emerging-markets
investing. By allocating a portion of their clients' portfolios in a
dedicated emerging markets fund, advisors can help their clients realize
the potential for increased returns and the benefits of a more diversified
portfolio of international investments."
About Fidelity Investments Institutional Services
Fidelity Investments Institutional Services Company
provides investment management services through investment professionals
at financial institutions nationwide, including wirehouses, regional and
independent broker/dealers, banks, trust companies and insurance
companies. The company offers Fidelity Advisor Funds®, Variable Insurance
Product (VIP) Portfolios, systematic investment plans, institutional money
market funds and a comprehensive line of retirement products and services.
Fidelity Investments Institutional Services Company's total assets under
management were $298.2 billion as of January 31, 2008. For more
information, advisors may visit https://advisor.fidelity.com.
About Fidelity Investments
Fidelity Investments is one of the world's largest
providers of financial services, with custodied assets of $3.3 trillion,
including managed assets of more than $1.5 trillion as of January 31,
2008. Fidelity offers investment management, retirement planning,
brokerage, and human resources and benefits outsourcing services to 24
million individuals and institutions as well as through 5,500 financial
intermediary firms. The firm is the largest mutual fund company in the
United States, the No. 1 provider of workplace retirement savings plans,
the largest mutual fund supermarket and a leading online brokerage firm.
For more information about Fidelity Investments, visit www.fidelity.com.
Fidelity Advisor Mega Cap Stock Fund
Class A, Class T, Class B, Class C, and Institutional Class are classes of
Fidelity Mega Cap Stock Fund.
Before investing, consider the
funds' investment objectives, risks, charges, and expenses. Contact your
investment professional for a prospectus or visit advisor.fidelity.com for
a Fidelity Advisor fund prospectus containing this information. Read it
carefully before you make your investment choices.
Stock markets, especially foreign
markets, are volatile and can decline significantly in response to adverse
issuer, political, regulatory, market, or economic developments. Foreign
securities are subject to interest rate, currency exchange rate, economic,
and political risks, all of which are magnified in emerging markets.
VIP refers to Variable Insurance
Products.
VIP portfolios are available for
investment only by the separate accounts of insurance companies. Annuities
are long-term investments.
Diversification does not ensure a
profit or guarantee against a loss.
Fidelity Investments & Pyramid
Design and Fidelity Advisor Funds are registered service marks of FMR LLC.
The third party marks appearing above
are the marks of their respective owners.
