5 Solid Fidelity Funds

Focus: FUNDS

Jim Lowell Image Jim Lowell Senior Partner & Chief Investment Strategist, Adviser Investments

This is no time for heroes...stick to solid long-term growth, and these funds will help you get ther, writes Jim Lowell of Fidelity Investor.

In periods of uncertainty such as we are seeing today, our risk-adjusted investment discipline, manager know-how, and asset allocation acumen have always served us well

Meanwhile, I’ll focus on what matters most to me—the skills of the Fidelity mangers whose funds we’re invested. Here's a review of five favorite fund managers and their funds, which we hold in our model portfolio.

Fidelity Contrafund (FCNTX)
I’ve said this so many times over the years that I have to kick myself to not forget to say it again: manager William Danoff has superior bear-market strengths and above-average bull-market ones.

He is a perfect example of the go-anywhere active manager who brings home the bacon without risking the whole enchilada. He invests in companies that he thinks are undervalued by institutions and individuals alike.

It began trading in May 1967 and was the brainchild of a great polymath contrarian, Leo Dworsky. It has a market value of close to $58 billion.

Foreign investments make up 11.1% of the holdings. The top three sectors are information technology (27.7%), consumer discretionary (22.7%), and financials (11.2%). The top ten holdings are Apple, Google, Berkshire Hathaway, Coca Cola, McDonalds, Wells Fargo, Disney, TJX Companies, Noble Energy, and Colgate-Palmolive.

Fidelity Equity Dividend Income (FEQTX)
We traded into this fund once it changed its dividend objective stripes (setting a dividend mandate) and adopted a veteran manager we like a lot.

Manager Scott Offen invests in income-producing investments, which leads to a large-cap value tilt.