Morningstar recently added to its coverage, with Parent, People, and Process ratings of Above Average thanks to its strong risk-reward profile.
Unlike their Canadian equity counterparts, funds in the Canadian Focused category must keep at least half their assets in Canada-based firms, but they can leaven them with a healthy dose of non-Canadian picks. The added diversification has tended to improve the average Canadian focused fund’s risk-adjusted returns versus the typical Canadian equity offering.
We expect the same from Fidelity Canadian Large Cap. Manager Daniel Dupont has run the strategy since 2011. Over his career as an analyst, he covered a diverse range of companies, from consumer goods to banks and even gold miners. He’s a patient investor, willing to wait years to buy companies at attractive prices. He looks for debt-light businesses that generate cash. A large team of experienced analysts support him, and he is…
