On April 1, 2022, Fidelity announced that Jody Simes, manager of Fidelity Select Materials since November 2019, will retire at the end of 2022. The firm has added Ashley Fernandes, its experienced global energy and materials sector leader, as a comanager in anticipation of taking over for Simes. Given Fernandes’ relevant background, a reasonable transition period, and no anticipated changes to the investment approach, the strategy’s Morningstar Analyst Ratings and Pillar ratings are unchanged.
Will FSDPX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FSDPX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the FSDPX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of FSDPX’s parent organization’s priorities and whether they’re in line with investors’ interests.