Fidelity International Real Estate Fund Q1 2025 Commentary

2025-05-05 13:20:00 ET

Summary

• Fidelity® International Real Estate Fund seeks capital appreciation by investing in non-U.S. real estate stocks with long-term growth potential, using a bottom-up approach.
• The fund underperformed the sector index, with notable detractors including avoiding Japanese property companies and holding Ryman Healthcare, while benefiting from SUNeVision Holdings.
• Concerns include the impact of declining interest rates, CO2 emissions requirements, and potential stagflation due to U.S. tariffs, emphasizing the need for quality balance sheets.
• Future focus areas include residential undersupply, property technology, and AI integration in real estate, which may offer significant advantages and opportunities.

FUND INFORMATION

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