FIDELITY FOCUS TECHNOLOGY FUND $9.19 (CWA Rating: Aggressive) (Fidelity Investments Canada, 483 Bay St., Suite 200, Toronto, Ont. M5G 2N7. 1-800-263-407 7; Web site: www.fidelity.ca. Load fund — available from brokers) invests mainly in technology companies. This includes computer services, computer software, computer systems, communications systems, electronics, office equipment, scientific instruments and semiconductors (computer chips).
The fund expanded in June, 2003 from primarily a U.S. focus to a global scope in its stock selections. Right now, it sees the most attractive opportunities for technology investing in the U.S., Japanese and South Korean markets.
The fund looks for stocks with strong earnings growth that appear undervalued.
Fidelity Focus Technology Fund’s top holdings now include Intel Corporation, Siemens AG, Microsoft Corporation, Cisco Systems, Samsung Electronics, Dell Computer, Oracle, Qualcomm, Hewlett-Packard and IBM.
The $137.9 million Fidelity Focus Technology Fund is broken down by sector as follows: 19.2% in Semiconductors (computer chips) & semiconductor equipment, 18% in Communications equipment, 15.9% in Computers & peripherals, 12.2% in Software, and 7.1% in Electronic equipment & instruments.
The fund holds 59.2% of its assets in the U.S., 13.2% in Japan, 5.9% in South Korea, 4.9% in Germany, 3.5% in Taiwan, 2.3% in France, 2.7% in Finland, 2.2% in Sweden and 2.1% in Singapore.
The fund’s one-year gain is 7.2%. That’s compared to the Nasdaq’s gain of 4.4% over the same period. The fund’s MER is 2.68%.
Fidelity Focus Technology Fund is a buy.
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