MARLBOROUGH, Mass. Fidelity Investments said it is now offering its Fidelity Select Portfolios family of funds to 401(k) plan participants.
The 40 funds in Fidelity Select Portfolios expand a 401(k) plan sponsors investment options by offering mutual funds in specific industries and sectors.
Participants can choose the industries in which they want to invest via seven broad sector funds that focus on consumer, cyclical, financial services, health-care, natural resources, technology, and utilities stocks, and they can choose from 33 other portfolios that focus on specific industries within these sectors.
Joseph P. LoRusso, president of Fidelity Institutional Retirement Services Co. in Marlborough, said last Wednesday that these portfolios enrich the 401(k) options for participants who might not be ready for self-directed brokerage accounts.