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A Promising Growth Fund to Keep on Your Radar

Katie Rushkewicz Reichart, CFA

Katie Reichart: Jed Weiss has run Fidelity International Growth (FIGFX) since its November 2007 inception. Although Morningstar doesn't currently cover the fund, he has posted impressive results, beating peers and the MSCI EAFE Growth Index. He also invests more than $1 million in the fund, which is encouraging.

Weiss looks for funds with multiyear growth potential across industries that have high barriers to entry. The fund is diversified across sectors and has more than 100 holdings. Although the portfolio has typically traded at higher valuations than the benchmark, it also sports higher net margins, returns on assets, and returns on invested capital, which has helped it weather market downturns as well. For instance, it held up better in 2008, 2011, and so far in 2015.

The retail version of the fund has about $1 billion in assets, but it's also included in Fidelity's target-date funds, which boosts its asset base. With a good long-term track record, investors should keep this fund on their radar.