COLLEGE PLANNING | ESTATE PLANNING | INVESTING | PORTFOLIO SPOTLIGHT | REAL ESTATE | RETIREMENT | TAX PLANNING
Fidelity Advisor International Growth Fund
TICKER ASSETS
FIIIX $ 4.3 billion
PERFORMANCE |
1 yr . |
3 yr . |
5 yr . |
10 yr . |
15 yr . |
|
-6.77% |
3.66 % |
6.17 % |
7.24 % |
6.11 % |
TOP 5 HOLDINGS LVMH Moët Hennessy Louis Vuitton SE ; Nestlé SA ; ASML Holding NV ; Roche Holding AG .; Linde PLC
CONTACT INFO
800.522.7297 • institutional . fidelity . com
EQUITY SECTOR ALLOCATION ( As a % of portfolio ) Industrials 27.32 % Information Technology 20.93 % Financials 13.05 % Consumer Discretionary 10.18 % Healthcare 8.24 % Materials 7.32 % Consumer Staples 5.79 % Communication Services 2.88 % Energy 0.96 % Real Estate 0.57 % Other 2.76 %
Performance , asset numbers and sector weightings as of 12 / 31 / 22 . Sources : Fidelity Investments and Morningstar .
Growth Is Back , And This Fund Could Be The Ticket
The Fidelity Advisor International Growth Fund remains a strong performer . By Jeff Schlegel
JED WEISS HAS BEEN THE PORTFOLIO MANAGER AT THE Fidelity Advisor International Growth Fund since it launched in 2007 . In a sense , it ’ s his baby . “ I have three legitimate babies ages 13 , 10 and 8 ,”
Weiss says , “ but this is my professional baby and it ’ s been wonderful watching it grow up , too . It ’ s 15 and not quite ready to drive , but it ’ s been with us for a while .”
He ’ s driven the fund to impressive results since its birth , garnering top-quartile annualized performance for the 15- , 10- , five- and one-year periods within its foreign large-growth category , according Morningstar . It slipped to the top half of its peer group during the three-year period , even though its 3.66 % average annual return during this period ( through February 7 ) topped the category average by 90 basis points .
In a report , Morningstar analyst Jack Shannon noted that Weiss takes a distinctive approach to fund management .
“ Weiss views portfolio construction differently than a lot of peers ; he shuns typical geographic , sector or industry groupings and instead takes a more nuanced approach that focuses on the sources of companies ’ revenue and costs ,” he wrote .
Shannon further stated that Weiss ’ s investment style often wades into pricier waters , but the emphasis on the quality of each holding ’ s business model helps temper the risk . “ Jed Weiss ’ s process leads to a consistent portfolio of high-quality companies , though he pays a premium for them ,” he wrote .
Weiss sees it differently . “ This isn ’ t a growth at any price fund ,” he says . “ Valuation is an important part of my process , but it ’ s valuation based on my earnings forecast , which might be different than the Street ’ s forecast .”
He adds that certain metrics make the fund look more expensive than the index , but the fund also demonstrates faster growth , higher returns and better balance sheet indicators
46 | FINANCIAL ADVISOR MAGAZINE | MARCH 2023 WWW . FA-MAG . COM