4 Must-Have Fidelity Mutual Funds For 2021

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Fidelity Investments is considered one of the leaders in the financial services industry with a presence in eight countries across North America, Europe, Asia and Australia, and more than 40,000 associates. The company carries out operations in the United States through 12 regional offices and more than 190 Investor Centers.

Fidelity offers investment advice, discount brokerage services, retirement services, wealth management services, securities execution, and clearance and life insurance products to its clients. It serves more than 32 million individual investors.

At Fidelity, a large group of investment professionals carry out extensive and in-depth research to guide investors on potential investment avenues worldwide. Fidelity had total assets of about $8.8 trillion under management (as of Sep 30, 2020). The company manages over 570 mutual funds across a wide range of categories, including both domestic as well as foreign funds, and equity and fixed income funds.

Fidelity’s Performance in 2020

Fidelity Advisor Series Growth Opportunities Fund FAOFX turned up as one of the best-performing mutual funds from the Fidelity family. The fund posted solid gains in the year to date period. FAOFX, which invests a bulk of its assets in common stocks of companies with above-average growth potential, has added 63.1% over the past year.

Fidelity invests in a variety of sectors that are sensitive, cyclical and defensive. From the sensitive sectors, most investments were made in the technology sector. Among the cyclical sectors, the fund family invested the maximum in the financial services sector, while among the defensive sectors it invested heavily in healthcare.

Technology Select Sector SPDR (XLK) has climbed 37.4% over the past one year and turned up as the best-performing sector among the 11 S&P 500 sectors.

Meanwhile, Fidelity was voted the most trusted wealth management company last year. The fund house left its peers behind and ranked first under several parameters such as protecting privacy and security, quality of products and services, customer service, as well as customer treatment.

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