Fidelity Value Discovery

The Fidelity Value Discovery fund primarily allocates its capital to common equities. It seeks out companies that Fidelity Management & Research Company (FMR) identifies as trading below their true intrinsic value. This assessment is often based on key financial indicators like assets, revenue, earnings, future growth prospects, or cash flow generation, or by comparing their valuation to similar companies within the same industry. The fund's investment scope is global, encompassing both U.S. and international issuers. Investment selection is driven by thorough fundamental analysis, which examines each company's financial health, competitive standing within its sector, and the broader market and economic environment.