FIDELITY FOCUS TECHNOLOGY FUND $9.79 (CWA Rating: Aggressive) invests mainly in technology companies. This includes computer services, computer software and systems, communications systems, electronics, office equipment, scientific instruments and computer chips. The fund looks for stocks with strong earnings growth that appear undervalued.
Fidelity Focus Technology Fund’s top holdings now include Microsoft Corporation, Cisco Systems,Canon Inc., Apple Computer, Nokia, Qualcomm, Google, Hewlett-Packard, First Data and Taiwan Semiconductor.
The $107.7 million Fidelity Focus Technology Fund is broken down by sector as follows: 18.9% in Semiconductors (computer chips) & semiconductor equipment, 17.4% in Communications equipment, 15.0% in Software, 14.9% in Computers & peripherals and 7.1% in IT services.
The fund has shifted more of its holdings lately outside of the U.S. It now holds 58.1% of its assets in the U.S., 9.9% in Japan, 9.9% in Taiwan, 3.4% in Finland, 2.7% in Bermuda, 2.2% in France, 1.9% in Germany, 1.7% in the Netherlands, 1.6% in South Korea and 1.4 in Norway.
The fund’s one-year gain in Canadian dollars is 5.2%. That’s compared to the Nasdaq’s gain of 7.4% in Canadian funds over the same period. The fund’s MER is 2.68%.
Fidelity Focus Technology Fund is a buy.
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