Fidelity Investments is considered one of the leaders in the financial services industry with presence in eight countries across North America, Europe, Asia and Australia, and more than 400 research professionals. The company carries out operations in the United States through 12 regional offices and more than 200 Investor Centers.

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Fidelity offers investment advice, discount brokerage services, retirement services, wealth management services, securities execution, and clearance and life insurance products. It serves more than 37 million individual investors.

At Fidelity, a large group of investment professionals carries out extensive and in-depth research to guide investors on potential investment avenues worldwide. Fidelity had total assets of about $11.1 trillion under management (as of Sep 30, 2021). The company manages more than 504 mutual funds across a wide range of categories, including domestic as well as foreign funds, and equity and fixed income funds.

Below we share with you three top-ranked Fidelity mutual funds, viz., Fidelity Select Technology Portfolio (FSPTX - Free Report), Fidelity Select Semiconductors Portfolio (FSELX - Free Report), and Fidelity Value Discovery Fund Class K (FVDKX - Free Report) . Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of funds.

Fidelity Select Technology Portfolio fund aims for capital appreciation. FSPTX invests primarily in equity securities, especially common stocks of companies engaged in offering, using or developing products, processes or services that will provide or benefit significantly from technological advances and improvements.

Fidelity Select Technology Portfolio fund has three-year annualized returns of 38.1%. As of the end of September 2021, FSPTX held 150 issues, with 20.4% of its assets invested in Microsoft Corp.

Fidelity Select Semiconductors Portfolio fund aims for capital appreciation. As a non-diversified fund, FSELX invests a majority of assets in the securities of companies, principally engaged in the design, manufacturing or the sale of semiconductors and semiconductor equipment.

Fidelity Select Semiconductors Portfolio has three-year annualized returns of 45.2%. FSELX has an expense ratio of 0.70% compared with the category average of 1.05%.

Fidelity Value Discovery Fund Class K aims for capital appreciation. FVDKX invests the majority of assets in common stocks of companies that are undervalued in the marketplace taking into consideration the assets, sales, earnings, growth potential, or cash flow, or in relation to securities of other companies in the same industry.

Fidelity Value Discovery Fund Class K has returned 11.1% in the past three years. Sean Gavin has been the fund manager of FVDKX since 2012.