Fidelity Advisor Stock Selector Mid Cap Fund - Class M (FMCAX)

Overview

The fund operates as a sophisticated investment vehicle, primarily targeting the allocation of assets across a diverse portfolio comprising both affiliated and non-affiliated equity funds, as well as Exchange-Traded Funds (ETFs) that are accessible through Fidelity's FundsNetwork®. This expansive approach is enriched by the inclusion of carefully selected sub-advisers, chosen through a rigorous evaluation process. At the core of its strategy, the fund employs a blend of proprietary fundamental and quantitative research methodologies. This meticulous process is designed to scrutinize various critical factors, including performance across different market conditions, the depth of manager experience and their investment approach, the structural capabilities of the management company, alongside considerations such as cost efficiency, asset volume, and the rate of portfolio turnover. This comprehensive strategy aims to cater to investors by offering a balanced and carefully curated investment portfolio, engineered to navigate through the complexities of the financial markets.

Products and Services

• Affiliated Equity Funds

  These are investments in equity funds managed by affiliates or entities that share a management relationship with the overseeing investment fund. Participation in these funds is strategically designed to leverage internal expertise and insights within the affiliated network, offering investors exposure to a range of sectors and investment opportunities.

• Non-affiliated Equity Funds through Fidelity's FundsNetwork®

  These funds extend the investment landscape to include a broader array of equity funds managed outside the affiliated circle but accessible through Fidelity's FundsNetwork®. This inclusion ensures a diverse portfolio that benefits from a wide spectrum of investment strategies, philosophies, and market perspectives.

• Non-affiliated ETFs

  Investments in Exchange-Traded Funds (ETFs) not affiliated with the fund offer a flexible and liquid option for gaining exposure to indices, sectors, commodities, or other assets. These ETFs are selected based on their potential to contribute positively to the overall portfolio performance, providing a layer of diversification outside the traditional mutual fund investments.

• Sub-advisers

  The fund carefully selects independent sub-advisers to manage portions of the portfolio. This process is guided by proprietary research evaluating numerous factors such as market performance, management experience, and investment style. This approach aims to harness expertise from specialized managers, further enhancing the fund's diversification and potential to generate returns.