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FSANX,FBALX,FGBLX,FDYSX: Fidelity Balanced Allocation Funds

There are five balanced allocation mutual funds available from Fidelity Investments within its asset allocation category, which also includes target date, target risk and income replacement funds. Fidelity's asset allocation mutual funds offer investors a mix of asset classes aimed at providing income and capital appreciation with typically moderate risk levels. All of Fidelity's balanced allocation funds are actively managed.

Fidelity, operating since 1946, is one of the largest mutual fund and financial planning providers worldwide, with more than $2 trillion in assets under management (AUM). In addition to mutual funds, Fidelity offers discount brokerage and wealth management services, insurance products and employee benefit programs. Fidelity offers hundreds of mutual funds, including domestic and international equity funds, sector funds, money market funds, fixed income funds and asset allocation funds.

1) Fidelity Asset Manager 60% Fund (FSANX)

The Fidelity Asset Manager 60% Fund was launched in 2007 and has $1.5 billion in total AUM. The fund aims for high total return through diversified portfolio investments in stocks, bonds, and money market or other short-term instruments. The fund manager may elect to use direct investments or investments in Fidelity funds that hold the desired investments, and it generally maintains a mix of 60% stocks, 35% bonds and 5% other assets.

The portfolio manager is Geoff Stein, who has directed the fund since 2009. Stein has been with Fidelity since 1995 when he was hired as director of portfolio analysis. Stein has previously managed a number of Fidelity's asset manager and asset allocation funds. He holds an MBA from Stanford University.

The expense ratio for this fund is 0.73%, which is below the category average of 0.94%. The dividend yield is 1.24%. The annual portfolio turnover ratio is a relatively low 22%. Top holdings include E-mini S&P 500 futures, Euro STOXX 50 futures and U.S. Treasury bonds (T-bonds).

2) Fidelity Balanced Fund (FBALX)

The Fidelity Balanced Fund launched in 1986 with the investment goal of income and long-term capital appreciation. It has $28.8 billion in assets. The fund is typically 60% invested in stocks and 40% invested in debt securities, maintaining 25% of the portfolio in fixed income securities.

Jonathan Kasen has been the lead portfolio manager since 2013, assisted by 10 other team members who direct investments in various parts of the portfolio. Kasen has been with Fidelity since 2006. He previously

worked as an analyst at Hellman, Jordan Management Company.

The fund's expense ratio is a low 0.55%. The dividend yield is 1.56%. The portfolio turnover ratio is a notably high 128%. Among the fund's primary holdings are Alphabet (NASDAQ: GOOG, GOOGL).

3) Fidelity Global Balanced Fund (FGBLX)

The Fidelity Global Balanced Fund was launched in 1993 and has approximately $543 million in AUM. The fund's managers use fundamental analysis to pursue income and capital growth, putting together a globally diversified investment portfolio of stocks and debt securities, typically with 25% of the portfolio invested in fixed income securities, including preferred stock. Stein has been the lead portfolio manager since 2009, and he is assisted by five other team members.

The expense ratio for the Fidelity Global Balanced Fund is 0.99%. The fund's dividend yield is 0.29%. The portfolio turnover ratio is high at 140%. Main portfolio holdings include Adobe Systems (NASDAQ: ADBE), Japanese government bonds and Alphabet.

4) Fidelity Global Strategies Fund (FDYSX)

The Fidelity Global Strategies Fund, launched in 2007, aims for maximum total return by employing an investment strategy of globally diversified investments in stocks, debt securities and other asset classes, such as commodities. The fund has $180 million in assets, uses both technical and fundamental analysis to select investments, and shifts asset allocation based on short-term market opportunities and changing economic conditions.

Christopher Sharpe has directed the fund since 2014. Sharpe, a Chartered Financial Analyst (CFA), joined Fidelity in 2002 as an asset allocation director.

The expense ratio is 1.11%. The fund offers a dividend yield of 1.45%. Primary fund holdings are other Fidelity mutual funds, including the Fidelity International Capital Appreciation Fund, the Fidelity Europe Fund and the Fidelity OTC Portfolio.

5) Fidelity Puritan Fund (FPURX)

The Fidelity Puritan Fund, with approximately $25.8 billion in assets, is one of Fidelity's original mutual funds, having been launched in 1947. The fund seeks both income and long-term capital growth, typically through a 60/40 mix of equities and debt securities.

Ramin Arani has been the lead manager for the fund since 2007, assisted by Harley Lank and Michael Plage. Arani started with Fidelity in 1992 as a research associate before starting to manage fund portfolios in 1997.

The expense ratio for the Fidelity Puritan Fund is 0.55%. The dividend yield is 1.6%. Top portfolio holdings include Alphabet Class C share (NASDAQ: GOOG)


Category: Advisor

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