Fidelity Investments has introduced its first small-capitalization stock mutual fund to be offered through banks and other intermediaries.
The Fidelity Advisor Small Cap Fund is managed by Harry Lange, an 11- year veteran of the company who has managed the Fidelity Capital Appreciation Fund since March 1996.
The new fund, aimed at aggressive investors, is part of Fidelity's plan to boost its share of sales through banks, brokers, and insurance companies. The company plans to add eight more Advisor Funds-those sold through go-betweens-by the end of the year, for a total of 38.
Fidelity manages almost $150 billion of assets in products sold through intermediaries. Those products also include variable annuities.