Fidelity International Small Cap Fund Q1 2025 Commentary

2025-05-05 23:15:00 ET

Summary

• Fidelity® International Small Cap Fund focuses on high-quality small-cap companies trading below intrinsic value, aiming for capital appreciation through a value-oriented approach.
• The fund outperformed its benchmark in Q1 2025, gaining 4.94% versus the MSCI All Country World Index ex U.S. Small Cap Index's 0.68%.
• Strong performance driven by underweighting emerging markets and strategic picks in Europe ex U.K., notably in industrials and capital goods firms.
• Outlook emphasizes stable-growth companies with minimal debt, maintaining high-quality firms to withstand economic uncertainties and potential recessions.

FUND INFORMATION

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