FIDELITY FOCUS TECHNOLOGY FUND $8.81 (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, Nintendo, Apple Computer, Nokia, Qualcomm, Google, Hewlett-Packard, Intel, Oracle Corporation and Microsoft.
The $74.9 million Fidelity Focus Technology Fund is broken down by sector as follows: 18.2% in Communications equipment, 17.5% in Software, 15.4% in Semiconductors (computer chips) & semiconductor equipment, 14% in Computers & peripherals and 8.8% in Internet software & services.
The fund has shifted more of its holdings lately to the U.S. and Taiwan. It now holds 55.8% of its assets in the U.S., 12.7% in Taiwan, 7.7% in Japan, 5.7% in Finland, 4.5% in India, 2.7% in Grand Cayman, 1.8% in Bermuda, 1.7% in France, 1.6% in China, and 1.4% in Germany.
The fund’s one-year loss in Canadian dollars is 14.3%. That’s compared to the Nasdaq’s loss of 16.1% 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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