5 Fidelity Mutual Funds to Build a Solid Portfolio

Fidelity Investment Overview:

• Founded in 1946, headquartered in Boston, MA.
• $12.6 trillion assets under administration as of Dec 31, 2023.
• Provides financial planning, advisory services, retirement planning, and more.
• Offers zero-load charge mutual fund products directly to clients.
• Operates in nine countries across North America, Europe, Asia, and Australia.

Current Economic Situation:

• Annual Consumer Price Index (CPI) rose to 3.5% in March.
• Deviation from the Federal Reserve's 2% inflation expectation.
• High CPI may affect Federal Reserve's policy rate decisions.
• Investors anticipate interest rate cuts due to high rates affecting corporate profitability.

Fidelity Mutual Funds Selection:

• Five Fidelity mutual funds with wide industry exposure recommended.
• Funds have Zacks Mutual Fund Rank #1, positive returns, and low expense ratios.
• Minimum initial investments within $5000.
• Mutual funds reduce transaction costs and diversify portfolios effectively.

Fidelity Select Energy Fund (FSENX):

• Invests in energy-related companies domestically and internationally.
• Managed by Maurice FitzMaurice since Dec 31, 2019.
• Three-year and five-year annualized returns are 28.2% and 11.6%, respectively.
• Annual expense ratio of 0.73%.

Other Fidelity Mutual Funds:

• Include FSELX, FMILX, FSLBX, and FCMVX.
• Each fund focuses on specific sectors or market capitalizations.
• Managed by experienced professionals with positive returns.
• Offer competitive expense ratios compared to category averages.