The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FCVAX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the FCVAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of FCVAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Upgraded.
Eric Schultz
Analyst
Summary
Increased conviction in Fidelity Small Cap Value’s manager merits upgrading the People rating to Above Average from Average; the Process rating remains Above Average.