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I know this was discussed. I felt this was a little out of Fido's area of expertise. Taking a second look at it. Anyone own it and insight now that it has been operating for a while?
The newsletter Fidelity Monitor & Insight has just increased its investment in this fund. Some of the reasons they give for recommending FARNX are 1. the manager has placed all of his wealth in the fund (shows conviction); 2. the manager is only the second at Fidelity to incubate his investment thesis before launching a concept fund (Joel Tillinghast was the first and that turned out well--Low-Priced Stock fund), 3. spinoffs and restructured companies offer unique opportunities to invest in companies that are going to benefit from "unleashed entrepreneurism."
FM&I acknowledges that the fund's performance is modest so far, but they believe the unique approach will be a winner over time.
I'm going to put a little seed money in it, and see what happens.
Comments
Regards,
Ted
FARNX:
YTD: 3.80%
1YR. 8.95%
ER: 1.30%
IJH:
YTD: 4.93%
!YR. 12.37%
ER: .12%
FM&I acknowledges that the fund's performance is modest so far, but they believe the unique approach will be a winner over time.
I'm going to put a little seed money in it, and see what happens.