Here’s a Top U.S Fund Buy

Article Excerpt

FIDELITY GROWTH AMERICA FUND $22.54 (CWA Rating: Conservative) (Fidelity Investments Canada, 483 Bay St., Suite 200, Toronto, Ont. M5G 2N7. 1-800-263-4077; Web site: www.fidelity.ca. Load fund — available from brokers) uses a “bottom-up” approach (using fundamentals such as earnings, cash flow and low debt) to identify undervalued companies. Fidelity Growth America Fund’s top holdings include Exxon Mobil., Hewlett-Packard, Bank of America, General Mills, UnitedHealth Group, Andarko Petroleum, Nucor, Harley-Davidson, Merrill Lynch and Western Digital. The $507.2 million fund breaks down by economic sector as follows: 21.4% in Financials, 17% in Information technology, 13.1% in Health Care, 11% in Energy, 9.8% in Industrials, 7.7% in Consumer staples, 6.7% in Consumer discretionary, and 5.2% in Materials. The fund’s one-year loss is 2.5%, compared to a loss of 4.2% for the S&P 500 over the same period. The fund’s MER is 2.63%. Fidelity Growth America Fund is a buy. buy…