Fidelity Low-Priced Stock

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Fidelity Low-Priced Stock (symbol FLPSX), sometimes referred to as Fidelity Low-Priced Stock Fund, is a mutual fund operated and provided by Fidelity Investments. It is currently managed by a team appointed in September 2011, the most tenured co-manager being Joel Tillinghast, who has participated in the fund's leadership since 1989. Low-Priced Stock's AUM (assets under management) as of August 2014 total over 48.0 billion USD.

A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. These investors may be retail or institutional in nature.

Fidelity Investments Inc., commonly referred to as Fidelity, earlier as Fidelity Management & Research or FMR, is an American multinational financial services corporation based in Boston, Massachusetts.

In finance, assets under management (AUM), sometimes called funds under management (FUM), measures the total market value of all the financial assets which a financial institution such as a mutual fund, venture capital firm, or broker manages on behalf of its clients and themselves.

History

Most of the fund's holdings are in medium-size companies with stock under $35 per share. Analysis from U.S. News & World Report says FLPSX is closest to a mid-cap value fund, but "difficult to categorize" and with a strong history of growth and good management. [1]

Value investing is an investment paradigm that involves buying securities that appear underpriced by some form of fundamental analysis. The various forms of value investing derive from the investment philosophy first taught by Benjamin Graham and David Dodd at Columbia Business School in 1928, and subsequently developed in their 1934 text Security Analysis.

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Passive management is an investing strategy that tracks a market-weighted index or portfolio. The most popular method is to mimic the performance of an externally specified index by buying an index fund. By tracking an index, an investment portfolio typically gets good diversification, low turnover, and low management fees. With low fees, an investor in such a fund would have higher returns than a similar fund with similar investments but higher management fees and/or turnover/transaction costs.

An index fund is a mutual fund or exchange-traded fund (ETF) designed to follow certain preset rules so that the fund can track a specified basket of underlying investments. Those rules may include tracking prominent indexes like the S&P 500 or the Dow Jones Industrial Average or implementation rules, such as tax-management, tracking error minimization, large block trading or patient/flexible trading strategies that allows for greater tracking error, but lower market impact costs. Index funds may also have rules that screen for social and sustainable criteria.

Open-end fund is a collective investment scheme that can issue and redeem shares at any time. An investor will generally purchase shares in the fund directly from the fund itself, rather than from the existing shareholders. The term contrasts with a closed-end fund, which typically issues at the outset all the shares that it will issue, with such shares usually thereafter being tradable among investors.

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The Vanguard Group is an American registered investment advisor based in Malvern, Pennsylvania with over $5.3 trillion in assets under management. It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock's iShares. In addition to mutual funds and ETFs, Vanguard offers brokerage services, variable and fixed annuities, educational account services, financial planning, asset management, and trust services.

Peter Lynch American businessman

Peter Lynch is an American investor, mutual fund manager, and philanthropist. As the manager of the Magellan Fund at Fidelity Investments between 1977 and 1990, Lynch averaged a 29.2% annual return, consistently more than doubling the S&P 500 market index and making it the best performing mutual fund in the world. During his tenure, assets under management increased from $18 million to $14 billion.

Net asset value (NAV) is the value of an entity's assets minus the value of its liabilities, often in relation to open-end or mutual funds, since shares of such funds registered with the U.S. Securities and Exchange Commission are redeemed at their net asset value. It is also a key figure with regard to hedge funds and venture capital funds when calculating the value of the underlying investments in these funds by investors. This may also be the same as the book value or the equity value of a business. Net asset value may represent the value of the total equity, or it may be divided by the number of shares outstanding held by investors, thereby representing the net asset value per share.

Market timing is the strategy of making buying or selling decisions of financial assets by attempting to predict future market price movements. The prediction may be based on an outlook of market or economic conditions resulting from technical or fundamental analysis. This is an investment strategy based on the outlook for an aggregate market, rather than for a particular financial asset.

Investment management is the professional asset management of various securities and other assets in order to meet specified investment goals for the benefit of the investors. Investors may be institutions or private investors.

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The Fidelity Magellan Fund is a US-domiciled mutual fund from the Fidelity family of funds. It is perhaps the world's best known actively managed mutual fund. On January 14, 2008, Fidelity announced that the fund would open to new investors for the first time in over a decade.

William H. Miller III is an American investor, fund manager, and philanthropist. He served as the chairman and chief investment officer of Legg Mason Capital Management as well as the principal portfolio manager of the Legg Mason Capital Management Value Trust. He now runs a fund based management company known as Acunari and is the portfolio manager of the former Legg Mason Opportunity Trust mutual funds, now housed at his own firm Miller Value Partners.

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Lord, Abbett & Co. LLC is an independent, privately-held investment management company headquartered in Jersey City, New Jersey. The firm offers a variety of fixed−income and equity strategies to individual and institutional investors.

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References

  1. https://money.usnews.com/funds/mutual-funds/mid-cap-value/fidelity-low-priced-stock-fund/flpsx