FIDELITY FOCUS CONSUMER INDUSTRIES FUND $15.82 (CWA Rating: Aggressive) (Fidelity Investments Canada, 483 Bay St., Suite 200, Toronto, Ont. M5G 2N7. 1-800-263-4077; Web site: www.fidelity.ca. Load fund — available from brokers) invests mainly in U.S. consumer goods and services companies.
This includes appliances, cars, clothing, cosmetics, entertainment, food and beverages, homes, household products, leisure, personal computers, restaurants and travel. Consumer spending is a key part of the U.S. economy, accounting for approximately two-thirds of activity.
The fund uses a “bottom-up” approach (using fundamentals such as earnings, cash flow and low debt) to identify undervalued companies.
Fidelity Focus Consumer Industries Fund’s top holdings include Altria Group (formerly Philip Morris), Nestle SA, Gillette, CVS Corp., Procter & Gamble, Time Warner, PepsiCo, Wal-Mart Stores, Reckitt Benckiser and LVMH.
The $11.7 million fund is broken down by industry as follows: 14.5% in Media, 10.4% in Specialty retail, 9.8% in Textiles & apparel, 9.6% in Household products, and 8.5% in Food products.
Geographically, the fund holds 42.4% of its assets in the U.S, 9.5% in Switzerland, 8.2% in the UK, 7.7% in France, 7.1% in Japan, 4.2% in Hong Kong, 4.0% in the Netherlands, 2.6% in Spain, and 2.4% in Germany.
The fund’s one-year gain is 5.8%. Its MER is 2.79%.
Fidelity Focus Consumer Industries Fund is a buy.
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