Fidelity Value Discovery’s defensive, valuation-driven approach still has merit. But rather than displaying exceptionalism, the team behind it now looks closer to the industry norm. Its People Pillar is downgraded to Average from Above Average.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FVDNX’s performance objective and investment process is for both security selection and portfolio construction.
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