FIDELITY FOCUS TECHNOLOGY FUND $10.18 (CWA Rating: Aggressive) invests mainly in technology companies.
The fund’s investments include computer services, computer software and systems, communications systems, electronics, office equipment, scientific instruments and computer chips. The fund looks for stocks that have strong earnings growth and appear undervalued.
Fidelity Focus Technology Fund’s top holdings now include Cisco Systems, Canon Inc., Apple Computer, Nokia, Qualcomm, Google, Hewlett-Packard, Broadcom, Oracle Corporation and Taiwan Semiconductor.
The $99.9 million Fidelity Focus Technology Fund is broken down by sector as follows: 20.1% in Semiconductors (computer chips) & semiconductor equipment, 17.9% in Software, 16.2% in Communications equipment, 14.8% in Computers & peripherals and 7.9% in Electronic equipment & instruments.
The fund has shifted more of its holdings lately to the U.S. It now holds 58.2% of its assets in the U.S., 9.5% in Japan, 9.0% in Taiwan, 4.1% in Finland, 3.7% in South Korea, 3.2% in Germany, 2.7% in France, 2.5% in India, 2.1% in Bermuda, and 1.5% in the Netherlands.
The fund’s one-year gain in Canadian dollars is 10.9%. That’s compared to the Nasdaq’s gain of 6.9% in Canadian funds over the same period. The fund’s MER is 2.66%.
Fidelity Focus Technology Fund is a buy.
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