Invest Wisely: Fidelity New Millennium Fund Offers Diverse Opportunities

The Fidelity New Millennium Fund is an actively managed U.S. Equity Large Value fund that has been in operation since 1992. The fund has a strong track record of performance, with returns of 10.63% over the past year, 17.53% over three years, and 10.50% over five years. With fees below average compared to similar funds, the Fidelity New Millennium Fund offers a compelling investment opportunity. The fund's management team focuses on identifying companies that can benefit from long-term changes in the marketplace, leveraging insights on technological advances, product innovation, and social attitudes. This proactive approach has resulted in consistent returns for investors.

The fund has a strong performance record, with high returns over the past 1, 3, 5 and 10 years

The Fidelity New Millennium Fund has a strong performance record, with high returns over the past 1, 3, 5 and 10 years. In September 2024, the fund returned 2.4%, earning it a grade of A, as the Large Value category had an average return of 1.1%.

Over the past year, the fund has returned 38.9%, 17.0% over three years, 16.8% over five years, and 12.4% over ten years. All of these returns have earned the fund a grade of A.

The fund has a total asset value of £3.653 billion, which is above the $1 billion average for the Large Value category. The fund has a net expense ratio of 0.54% and a portfolio turnover rate of 59%.

It has a large asset base of $3.65 billion to $5 billion, which can lead to greater investment opportunities and reduced risk

The Fidelity New Millennium Fund has a large asset base of $3.65 billion to $5 billion. A large asset base can lead to greater investment opportunities and reduced risk. With more assets under management, the fund can gain access to a wider range of investment options and diversify its portfolio more effectively. This diversification can help to reduce risk by spreading it across a larger number of investments.

Additionally, a larger asset base can provide economies of scale, leading to lower expense ratios and increased cost efficiency for investors. The fund's expense ratio of 0.54% to 0.89% is already below or within the category average, and a larger asset base may further drive down costs.

The fund's large asset base also indicates a certain level of investor confidence and trust in the fund's management and strategy. This confidence is reflected in the fund's performance, with returns of 10.63% over the past year, 17.53% over three years, 10.50% over five years, and 9.74% over the past decade.

In summary, the Fidelity New Millennium Fund's large asset base can provide benefits such as increased investment opportunities, reduced risk through diversification, economies of scale, and lower costs, all of which contribute to its overall attractiveness as an investment option.

The fund has a low expense ratio of 0.54% compared to its category, resulting in lower fees for investors

The Fidelity New Millennium Fund has an attractive low expense ratio of 0.54%, which is significantly lower than the category average of 0.96%. This low expense ratio is a significant advantage for investors, as it results in lower fees. While the fund's expense ratio is 0.89% according to another source, it is still considered to be in line with its peers and within the middle quintile.

The fund's low expense ratio is notable as it has a positive impact on investment returns. The ratio measures the percentage of fund assets used for administrative and operating expenses, including adviser fees, transfer agent fees, and custodial service fees. A lower expense ratio means that a larger portion of the fund's assets is available for investment and distribution to investors.

In addition to its low expense ratio, the Fidelity New Millennium Fund also offers no-load shares, which means there are no sales charges or commissions when purchasing shares of the fund. This further reduces the fees and costs associated with investing in the fund.

Overall, the fund's low expense ratio and lack of load fees make it a cost-effective option for investors, allowing them to maximize their potential returns while minimizing fees. This feature, along with the fund's investment strategy and performance, makes a strong case for investing in the Fidelity New Millennium Fund.

The fund's management team has experience in identifying long-term changes in the marketplace, investing in companies that benefit from these shifts

The Fidelity New Millennium Fund is an actively managed US Equity Large Value fund that was launched in 1992. The fund's advisor identifies early signs of long-term changes in the marketplace and focuses on companies that may benefit from these shifts. This includes examining technological advances, product innovation, economic plans, demographics, and social attitudes. The fund's management team has experience in identifying these long-term changes and investing in companies that can benefit from them.

The fund's management team is currently led by Daniel Sherwood, who has been with the fund since 2022. The team's average tenure is 1.95 years. While the management tenure is relatively short, the team has demonstrated the ability to identify long-term changes in the marketplace and make successful investments.

The fund's investment strategy has led to strong returns over the past year, three years, five years, and ten years. As of September 2024, the fund had returned 2.4% for the month, outperforming the Large Value category average of 1.1%. Over the past year, the fund has returned 38.9%, and over the past three years, it has returned 17.0%. The fund's five-year and ten-year returns are also impressive, at 16.8% and 12.4%, respectively.

The fund's management team's experience in identifying long-term changes in the marketplace and investing in companies that benefit from these shifts has contributed to its strong performance. The team's ability to recognize technological advances, product innovation, and social attitude changes has allowed them to make successful investments in companies that are well-positioned for the future.

Overall, the Fidelity New Millennium Fund's management team has a strong track record of identifying long-term changes in the marketplace and investing in companies that benefit from these shifts. Their investment strategy has led to impressive returns, making the fund a attractive option for investors seeking capital appreciation and long-term growth.

It is a diversified fund, reducing risk by spreading investments across a wide range of securities and sectors

Diversification is a key principle of investing, and the Fidelity New Millennium Fund is a great example of a diversified fund. By investing in a wide range of securities and sectors, the fund reduces risk for investors.

The fund has a diverse portfolio of 163 securities, with the top 10 holdings making up 33.6% of the fund's assets. This diversification is not limited to the number of securities but also extends to the types of securities. The fund invests in both "growth" stocks and "value" stocks, allowing investors to access different segments of the market.

In addition to diversifying across securities, the Fidelity New Millennium Fund also diversifies across sectors. It is classified as a U.S. Equity Large Value fund but has a significant allocation to foreign issues, with 8.8% of its portfolio invested outside of the U.S. This international diversification provides exposure to different economies and markets, reducing the impact of country-specific risks.

The fund's diversification is further enhanced by its focus on identifying long-term changes in the marketplace. By examining factors such as technological advances, product innovation, economic plans, demographics, and social attitudes, the fund's advisor seeks to invest in companies that can benefit from these changes. This approach diversifies the fund's holdings across different themes and trends, ensuring that it is not overly concentrated in any one area.

The benefits of diversification are well-known in investing, and the Fidelity New Millennium Fund exemplifies this principle. By spreading investments across a wide range of securities and sectors, the fund reduces the risk of concentrating holdings in any one particular area. This diversification benefits investors by providing a more balanced approach to investing and helping to mitigate the impact of any single security or sector on the overall portfolio performance.

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