Fidelity Investments® today announced the launch of four new
Environmental, Social and Governance (ESG) funds -- Fidelity
Sustainable International Equity Fund (FSYRX), Fidelity Sustainable
Emerging Markets Equity Fund (FSYJX), Fidelity Sustainable
Multi-Asset Fund (FYMRX), and Fidelity Sustainable High Yield ETF
(FSYD). With the addition of these new funds, Fidelity now offers
investors and advisors 15 actively-managed and index sustainable
mutual funds and ETFs.
The new sustainable mutual funds and ETF will have no investment
minimums and are available for individual investors and financial
advisors to purchase commission-free through Fidelity’s online
brokerage platforms. More information about Fidelity’s full suite
of sustainable investing funds and resources can be found at
www.fidelity.com/sustainable.
Each of the three new mutual funds and one ETF will use
Fidelity’s proprietary forward-looking and historical ESG ratings
frameworks in addition to third-party ESG ratings to evaluate a
company’s or issuer’s sustainable business practices.
“Fidelity’s ESG ratings build on our legacy of active management
and quantitative capabilities, leveraging our global experience in
corporate engagement and fundamental analysis,” said Pam Holding,
Co-Head of Equity and Head of Sustainable Investing at Fidelity
Investments. “The integration of our proprietary ESG ratings into
these four new products will offer our customers building block
solutions to help connect their financial goals to positive themes
in the broader world.”
Fidelity Sustainable International Equity Fund and Fidelity
Emerging Markets Equity Fund will invest in companies with proven
or improving sustainability practices, in developed and emerging
markets, respectively. Fidelity Sustainable High Yield ETF will
invest in high-yield debt securities of issuers that Fidelity
believes have proven or improving sustainability practices, using a
joint quantitative and fundamental (“quantamental”) investment
approach to identify bonds within that universe with strong return
potential and low probability of default. Fidelity Sustainable
Multi-Asset Fund will invest in Fidelity’s actively managed and
index sustainable funds and is designed for investors seeking a
diversified fund with an emphasis on equities and long-term
growth.
About Sustainable Investing at Fidelity
Fidelity’s sustainable lineup includes thematic sustainable
funds that focus on a specific ESG theme, and broad sustainable
funds that include all three ESG themes, available at
www.fidelity.com/sustainable. In addition to the newly launched
funds, the lineup includes:
- Fidelity Climate Action Fund (FCAEX);
- Fidelity Environment & Alternative Energy Portfolio
(FSLEX);
- Fidelity Environmental Bond Fund (FFEBX);
- Fidelity International Sustainability Index Fund (FNIDX)
- Fidelity Sustainability Bond Index Fund (FNDSX);
- Fidelity Sustainability U.S. Equity Fund (FSEBX);
- Fidelity Sustainability U.S. Equity ETF (FSST)1;
- Fidelity U.S. Sustainability Index Fund (FITLX);
- Fidelity Water Sustainability Fund (FLOWX);
- Fidelity Women’s Leadership Fund (FWOMX); Fidelity Women’s
Leadership ETF (FDWM)1
1 This ETF is different from traditional ETFs. Traditional ETFs
tell the public what assets they hold each day. This ETF will not.
This may create additional risks for your investment. For example:
You may have to pay more money to trade the ETF’s shares. This ETF
will provide less information to traders, who tend to charge more
for trades when they have less information. The price you pay to
buy ETF shares on an exchange may not match the value of the ETF’s
portfolio. The same is true when you sell shares. These price
differences may be greater for this ETF compared to other ETFs
because it provides less information to traders. These additional
risks may be even greater in bad or uncertain market conditions.
The ETF will publish on its website each day a “Tracking Basket”
designed to help trading in shares of the ETF. While the Tracking
Basket includes some of the ETF’s holdings, it is not the ETF’s
actual portfolio. The differences between this ETF and other ETFs
may also have advantages. By keeping certain information about the
ETF secret, this ETF may face less risk that other traders can
predict or copy its investment strategy. This may improve the ETF’s
performance. If other traders are able to copy or predict the ETF’s
investment strategy, however, this may hurt the ETF’s performance.
For additional information regarding the unique attributes and
risks of the ETF, see the disclosure in the Principal Investment
Risks section of the prospectus.
Fidelity’s broad index sustainable funds are diversified index
funds that track benchmarks targeting high ESG-rated companies
and/or bond issuers, designed for investors seeking a low-cost
choice for their socially responsible investments.
Fidelity also offers separately managed accounts (SMAs) that can
be customized by excluding certain companies or industries from the
portfolio. In 2021, Fidelity introduced a technology solution, ESG
Pro, which makes ESG investing more accessible for financial
advisors through Fidelity’s end-to-end solution that helps advisors
include ESG investments in their portfolios and talk about ESG with
their clients. Fidelity’s Mutual Fund Evaluator enables investors
to search for socially responsible mutual funds, among other
factors.
Additionally, Fidelity provides education and thought leadership
on sustainable investing for retail investors and advisors.
Fidelity recently published a whitepaper on the market backdrop and
Fidelity’s approach to climate change investments, “Climate Change:
Potential Investment Opportunities.” More information on Fidelity’s
proprietary ESG ratings can be found in these whitepapers: “The
beliefs and philosophical underpinnings of Fidelity’s proprietary
ESG Ratings” and “ESG ratings: Look closer.”
Principal Investment Strategies for Fidelity’s Four New
Sustainable Funds
- Fidelity Sustainable International Equity Fund normally
invests at least 80% of assets in equity securities of companies
that FMR believes have proven or improving sustainability practices
based on an evaluation of such companies’ individual environmental,
social, ESG profile.
- Fidelity Sustainable Emerging Markets Equity Fund
normally invests at least 80% of assets in equity securities of
companies in emerging markets, including equity investments that
are tied economically to emerging markets, that FMR believes have
proven or improving sustainability practices based on an evaluation
of such companies’ individual ESG profile.
- Fidelity Sustainable High Yield ETF normally invests at
least 80% of the fund’s assets in debt securities rated below
investment grade (also referred to as high yield debt securities or
junk bonds) of issuers that FMR believes have proven or improving
sustainability practices based on an evaluation of such issuers’
individual ESG profile.
- Fidelity Sustainable Multi-Asset Fund normally invests
at least 80% of assets in Fidelity funds, including mutual funds
and ETFs, that invest in securities of issuers that FMR believes
have proven or improving sustainability practices based on an
evaluation of such issuers’ individual ESG profile and in Fidelity
index funds that track ESG indices.
About Fidelity
Investments
Fidelity’s mission is to inspire better futures and deliver
better outcomes for the customers and businesses we serve. With
assets under administration of $11.8 trillion, including
discretionary assets of $4.5 trillion as of December 31, 2021, we
focus on meeting the unique needs of a diverse set of customers.
Privately held for 75 years, Fidelity employs more than 57,000
associates who are focused on the long-term success of our
customers. For more information about Fidelity Investments, visit
https://www.fidelity.com/about-fidelity/our-company.
Follow us on Twitter @FidelityNews Visit About Fidelity
and our online newsroom
# # #
Free commission offer applies to online
purchases of Fidelity ETFs in a Fidelity retail account. The sale
of ETFs is subject to an activity assessment fee (from $0.01 to
$0.03 per $1,000 of principal).
Zero account minimums apply to retail brokerage
accounts only. Account minimums may apply to certain account types
(e.g., managed accounts) and/or the purchase of some Fidelity
mutual funds that have a minimum investment requirement. See
Fidelity.com/commissions and/or the fund’s prospectus for
details.
Diversification and asset allocation do not
ensure a profit or guarantee against loss.
ETFs are subject to market fluctuation and the
risks of their underlying investments. ETFs have management fees
and other expenses. Unlike mutual funds, ETF shares are bought and
sold at market price, which may be higher or lower than their NAV,
and are not individually redeemed from the fund.
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.
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 holding them until maturity to avoid
losses caused by price volatility is not possible. While it may
seem appealing to look at bonds that offer higher yields, investors
should consider those higher yields to be a sign of potentially
greater risk.
While environmental, social and corporate
governance (ESG) factors are available to incorporate into our
investment process across all Fidelity fund offerings, ESG
assessments represent one of many pieces of research available to
the portfolio managers and the degree to which it impacts a fund’s
holdings may vary fund by fund based on the portfolio manager’s
discretion. Investing based on ESG factors may cause a strategy to
forgo certain investment opportunities available to strategies that
do not use such criteria. Because of the subjective nature of
sustainable investing, there can be no guarantee that ESG criteria
used by Fidelity will reflect the beliefs or values of any
particular client.
"Fidelity Managed Accounts" or "Fidelity
managed accounts" refer to the discretionary investment management
services provided through Fidelity Personal and Workplace Advisors
LLC (FPWA), a registered investment adviser. These services are
provided for a fee. Brokerage services provided by Fidelity
Brokerage Services LLC (FBS), and custodial and related services
provided by National Financial Services LLC (NFS), each a member
NYSE and SIPC. FPWA, FBS, and NFS are Fidelity Investments
companies.
Before investing in any mutual fund or
exchange-traded fund, you should consider its investment
objectives, risks, charges, and expenses. Contact Fidelity for a
prospectus, an offering circular, or, if available, a summary
prospectus containing this information. Read it carefully.
Fidelity Brokerage Services LLC, Member NYSE,
SIPC, 900 Salem Street, Smithfield, RI 02917
National Financial Services LLC, Member NYSE,
SIPC, 200 Seaport Boulevard, Boston, MA 02110
Fidelity Distributors Company LLC, 245 Summer
Street, Boston, MA 02205
1015975.1.0 © 2022 FMR LLC. All rights reserved.
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Corporate Communications (617) 563-5800
fidelitycorporateaffairs@fmr.com
Meghan French (617) 563-2124 meghan.french@fmr.com
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