BOSTON -- (BUSINESS WIRE) -- Fidelity Investments®, a leading global asset management firm with $1.7 trillion in managed assets1, today announced that it won fourteen 2013 U.S. Lipper Fund Awards, which honor individual mutual funds that have outperformed peers based on risk-adjusted, consistent return.
Lipper designates award-winning funds in most individual classifications for the three-, five-, and 10-year periods. In total, 12 Fidelity mutual funds won 14 awards. This compares to 2011 when nine Fidelity mutual funds won 11 U.S. Lipper Fund Awards.
“These awards reflect Fidelity’s commitment to delivering strong risk-adjusted and consistent long-term investment performance for our shareholders across a deep and broad range of investment management capabilities,” said Ronald P. O’Hanley, president of Fidelity’s Asset Management organization. “On behalf of Fidelity and the funds’ shareholders, we are truly honored to receive this recognition from Lipper.”
The 12 mutual funds recognized by Lipper ranged across a variety of asset classes and styles, from investment grade bond and asset allocation to international, small cap and sector funds.
“Not only do these awards recognize our portfolio managers for their incredible stewardship on the funds, but, just as importantly, they demonstrate the hard work of each and every one of our 819 investment professionals across the globe2 to harness Fidelity’s deep and diverse capabilities to help our clients achieve their financial and business objectives,” said O’Hanley.
The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards for Excellence recognize the world’s top funds, fund management firms, sell-side firms, research analysts, and investor relations teams. It also includes the Extel Survey Awards, the StarMine Analyst Awards, and the StarMine Broker Rankings. For more information, please contact email@example.com or visit www.excellence.thomsonreuters.com.
About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $4.0 trillion, including managed assets of $1.7 trillion, as of January 31, 2013. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com.
Before investing, consider the funds investment objectives, risks, charges and expenses. Please visit www.fidelity.com or advisor.fidelity.com for a prospectus or if available, a summary prospectus, containing this information.
Past performance is no guarantee of future results.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk, liquidity risk, call risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities [generally offer higher yields, but also] involve greater risk of default or price changes due to potential changes in the credit quality of the issuer.
Stock markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. Investing in stock involves risks, including the loss of principal.
Foreign markets can be more volatile than U.S. markets due to increased risks of adverse issuer, political, market or economic developments, all of which are magnified in emerging markets. These risks are particularly significant for funds that focus on a single country or region.
The securities of smaller, less well-known companies can be more volatile than those of larger companies.
Performance of the Fidelity Income Replacement Funds depends on that of their underlying Fidelity funds. These funds are subject to the volatility of the financial markets in the U.S. and abroad and may be subject to the additional risks associated with investing in high yield, small cap and foreign securities.
Because of their narrow focus, sector funds tend to be more volatile than funds that diversify across many sectors and companies.
Shareholders may be subject to certain short-term trading fees. Please consult the prospectus for further information.
About Lipper Rating System
A Lipper Leader for Consistent Return is a fund that has provided superior consistency and risk-adjusted returns when compared to a group of similar funds. Lipper Leaders for Consistent Return may be the best fit for investors who value a fund's year-to-year consistency relative to other funds in a particular peer group.
Investors are cautioned that some peer groups are inherently more volatile than others, and even Lipper Leaders for Consistent Return in the most volatile groups may not be well suited to shorter-term goals or less risk-tolerant investors.
How Lipper Leaders are Rated for Consistent Return
Lipper Leader ratings for Consistent Return reflect funds' historic returns, adjusted for volatility, relative to peers. Ratings for Consistent Return are computed for all Lipper classifications with five or more distinct portfolios and span both equity and fixed-income funds (e.g., large-cap core, general U.S. Treasury, etc.)
The ratings are subject to change every month and are calculated for the following time periods: 3-year, 5-year, 10-year, and overall. The overall calculation is based on an equal-weighted average of percentile ranks for the Consistent Return metrics over 3-year, 5-year, and 10-year periods (if applicable). The highest 20% of funds in each classification are named Lipper Leaders for Consistent Return. The next 20% receive a rating of 4; the middle 20% are rated 3; the next 20% are rated 2, and the lowest 20% are rated 1.
Fidelity Investments and Lipper are not affiliated.
Diversification does not ensure a profit or guarantee against loss.
Fidelity Brokerage Services LLC, Member NYSE, SIPC
900 Salem Street, Smithfield, RI 02917
Fidelity Investments Institutional Services Company, Inc.,
500 Salem Street, Smithfield, RI 02917
© 2013 FMR LLC. All rights reserved.
1 As of January 31, 2013.
2 Source: Fidelity Management & Research Company, and Pyramis Global Advisors as of December 31, 2012. Data is unaudited. These figures reflect the resources of Fidelity Management & Research Company a U.S. company, and its subsidiaries.