The top five holdings of this international fund are: NESTLE (NSRGF, 2.39% of assets); NOVARTIS (NVSEF 1.99%); Sanofi (SNYNF.PA, 1.56%); Total (TTFNF.PA, 1.49%); and Bayer (BAYZF.DE, 1.45%).
Fidelity Overseas (FOSFX)
From Fidelity Monitor & Insight
In the past four years, a comparatively new manager named Vincent Montemaggiore has built his own impressive record on Fidelity Overseas (FOSFX).
Turning to our Scorecard, Fidelity Diversified International (FDIVX) has a 3-year average annual return of 3.9%, but Overseas is stronger at 5.6%. (Overseas has beaten 97% of its industry peers during that period versus “just” 93% for FDIVX.)
While both funds’ records are tremendous, we modestly prefer the Buy-rated Overseas, not just for its superior returns under Vincent, but also because he’s managed it to be 4% less risky.
That said, if your portfolio is in need of international large-cap growth exposure (we’re warming to the area!), you certainly won’t go wrong with either choice.
Jack Bowers, John M. Boyd and John Bonnanzio, Fidelity Monitor & Insight, www.fidelitymonitor.com, 800-397-3094, March 2016