Fidelity Select Funds

The Selects are a group of 41 sector funds plus a money market fund. Fidelity tends to use these funds as a training ground for its managers; the successful ones move on to managing larger Fidelity funds. For this reason, the managers tend to strive for top performance, and some of the Selects are usually among the best performing mutual funds at any given time. There are other fund families, such as Rydex, ProFunds, Invesco and Vanguard, that have sector funds, but none has the wide range of the Selects.

Some things you should know about the Select funds:

Select funds that were started in 1993 or earlier:

AIR TRANSPORTATION
AUTOMOTIVE
BIOTECHNOLOGY
BROKERAGE AND INVESTMENT MANAGEMENT
CHEMICALS
COMPUTERS
CONSTRUCTION AND HOUSING
CONSUMER INDUSTRIES
DEFENSE AND AEROSPACE
DEVELOPING COMMUNICATIONS
ELECTRONICS
ENERGY
ENERGY SERVICE
ENVIRONMENTAL SERVICES
FINANCIAL SERVICES
FOOD AND AGRICULTURE
GOLD
HEALTH CARE
HOME FINANCE
INDUSTRIAL EQUIPMENT
INDUSTRIAL MATERIALS
INSURANCE
LEISURE
MEDICAL DELIVERY
MULTIMEDIA
NATURAL GAS
PAPER AND FOREST PRODUCTS
REGIONAL BANKS
RETAILING
SOFTWARE AND COMPUTER SERVICES
TECHNOLOGY
TELECOMMUNICATIONS
TRANSPORTATION
UTILITIES GROWTH

Fidelity introduced two new Select funds in March 1997:
CYCLICAL INDUSTRIES
NATURAL RESOURCES

and two more new Select funds in 1998:
BUSINESS SERVICES AND OUTSOURCING
MEDICAL EQUIPMENT AND SYSTEMS

and two more new Select funds in 2000:
NETWORKING AND INFRASTRUCTURE
WIRELESS

and another one in 2001:
PHARMACEUTICALS

Five Select funds have been merged into current funds:

  1. Automation into Industrial Equipment (10/90)
  2. Electric Utilities into Utilities (now Utilities Growth) (2/94)
  3. Life Insurance into Insurance (10/90)
  4. Precious Metals and Minerals into Gold (2/00)
  5. Restaurants into Leisure (10/90)

These five funds were included into the research and backtesting that lead to the development of the Select Switching System

More information is available from Fidelity's Web Page

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