(September 25 – 15:20 ET) – Fidelity Investments Canada Ltd. is changing the name of Fidelity Capital Builder Fund effective the end of September. The fund will be called Fidelity Canadian Large Cap Fund. Fidelity says the new name more accurately reflects the fund’s mandate under the management of Bob Haber, Fidelity’s Chief Investment Officer for Canada.

Haber took over management responsibilities for the portfolio in July 1998 and has adopted a more clearly defined mandate with a focus on a diversified portfolio of large and mid-capi stocks. The fund invests primarily in the more established companies in the Canadian marketplace, with representation in each of the four major sectors of the TSE 300 Capped Index: industrial, consumer, interest sensitive and resources.

“We gave this fund a much more clearly defined mandate about two years ago, and it is time it had a new name to match,” said Stephanie Nacawa, vice president, product management of Fidelity Investments Canada Ltd. “There is now no question for financial advisors or investors what the objective of this Fund is, or where it fits in a portfolio.”
-IE Staff