Fidelity Investments has unveiled its first event driven mutual funds, called Fidelity Event Driven Opportunities Fund (FARNX) and Fidelity Advisor Event Driven Opportunities Fund (FCHSX), for individual investors and financial advisors.
FARNX has been designed for investors who work directly with Fidelity, while FCHSX is designed for financial advisors and defined contribution plan sponsors as an investment only option (DCIO).
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Managed by Arvind Navaratnam, these new mutual funds aim to uncover mispriced securities of companies due to special situation events such as spin-offs, index deletions, mergers and acquisitions, companies undergoing reorganizations, proxy fights, 13D filings and other special situations.
According to Fidelity, the funds will primarily invest in common stocks, but also have the flexibility to invest a portion of assets in bonds, including high yield.
Fidelity chief investment officer of equity group, Joseph DeSantis, said: "This is an area where active managers like Fidelity, with its expansive research capabilities and consistent attention to this part of the market, can uncover hidden gems in the securities world that offer investors new and potentially less-correlated sources of alpha and greater portfolio diversification."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
