Active Mutual Fund Invests in Companies Committed to Women’s Leadership and Development
BOSTON, May 8, 2019 — Fidelity Investments®, one of the industry’s most diversified financial services organizations with more than $7.4 trillion in client assetsi, today announced the launch of Fidelity Women’s Leadership Fund (FWOMX). The actively managed mutual fund is available with both retail and advisor share classes, with no investment minimums.
Fidelity Women’s Leadership Fund is managed by Nicole Connolly, a 21-year industry veteran. The fund seeks to identify high-performing companies that prioritize and advance women’s leadership and development.
To be considered, a company must have:
- A woman as a member of the senior management team, or;
- One-third women on its board of directors, or;
- Specific gender diversity initiatives for hiring, retention and promotion of women.
“I’m looking for companies that I believe are committed to female leadership and development, that can grow earnings more than the market and that have resilient businesses models with a solid competitive position,” said Connolly. “The focus with the Fidelity Women’s Leadership Fund is to offer an investment product that seeks returns with a purpose.”
Research Supports Gender-Diverse Companies
Fidelity’s research found that companies with women in leadership positions and initiatives promoting gender diversity generally outperformed the market over the long term.ii “Our active research and experience suggests this is an investment universe ripe for good stock picking,” said Connolly. “The research also found that companies with a commitment to gender diversity can have lower earnings volatility and higher return on equity.” Fidelity published a new Viewpoints, “Investing in Women.” The paper offers insight into the potential benefits of funds like the Fidelity Women’s Leadership Fund.
Fidelity Study Found Growing Interest in Investing Alongside Personal Values
Fidelity’s previously released Women and Investing Study found that many investors are interested in investment options that align with their values. More than half of investors surveyed by Fidelity said they would be interested in a fund that invests in companies supporting women in leadership roles, with millennial women demonstrating the strongest interest (61%)iii.
Nearly three-quarters of women (72%) said they wanted to take steps in the next six months to demand more from their money and make it work harderiv. The No. 1 topic they want to learn more about: investing and how to select investments to meet their goalsv.
“The launch of this fund aligns with Fidelity research showing that women are ready to take control of their finances and demand more from their money,” said Connolly.
To learn more about how Fidelity is helping women demand more of their money through investing, see Fidelity.com/DemandMore.
About Nicole Connolly:
Portfolio Manager Nicole Connolly has been in the investment industry for 21 years and spent 19 of those years at Fidelity. In addition to her role as portfolio manager, Connolly leads the Environmental, Social and Governance (ESG) investment efforts across Fidelity’s Asset Management organization, including helping to direct Fidelity’s ESG product roadmap, facilitating greater education about ESG in the investment process, and helping to coordinate cross-asset class ESG efforts. Previously, Connolly served as managing director of research for the Natural Resources, Utilities, Technology, and Emerging Markets groups among others. Connolly began her career at Fidelity analyzing companies across various sectors, asset classes and market capitalizations.
About Fidelity Investments
Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $7.4 trillion, including managed assets of $2.7 trillion as of March 31, 2019, we focus on meeting the unique needs of a diverse set of customers: helping more than 30 million people invest their own life savings, 22,000 businesses manage employee benefit programs, as well as providing more than 13,500 financial advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for more than 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.
Before investing, consider the funds’ investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
Diversification and asset allocation does not ensure a profit or guarantee against loss.
Past performance is no guarantee of future results.
Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.
Fidelity Launches Fidelity Women’s Leadership Fund / Page 3
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Fidelity Investments Institutional Services Company, Inc.
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i Fidelity Investments, March 31, 2019
ii Source: Thompson Reuters, Fidelity Investments (FMR) as of April 2019. Data as of June 2007 – June 2018. Research found that since 2008, companies exhibiting gender diverse attributes – in this case, female representation in senior management and a minimum of two corporate governance policies aimed at promoting diversity – experience higher returns than companies that do not.
iii Fidelity Investments Women and Investing Study, November 2018
v Fidelity Women and Money Survey 2016