Tuesday, August 16, 2005

International confusion

Seen on the front page of Fidelity.com: "The search is on for undiscovered international small cap stocks. Introducing Fidelity International Small Cap Opportunities Fund"

Um ... isn't searching for undiscovered international small cap stocks the job of the researchers and managers of Fidelity's existing International Small Cap fund (FISMX)?

If that is indeed the case, then how are these two funds different? Is the old fund lagging? Or is it closed to new investors, and this new fund is a vehicle to tap all of that pent-up demand? Or something else? The information page for the new fund doesn't explain.

C'mon Fidelity, you can do better!

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