The Fidelity Destiny II Fund (FDETX) has been under the management of Harlan Carere since December of 2007 which saw a return of 69.48% in this past year. This is his first stint with a diversified fund which is rated as an above average risk but below average return. The fund has fluctuated between being a blended and large growth fund and back again in the last three years
Of the $3.4 billion in assets, 99.8% of it is in stocks. The turnover ratio is 152% with 0.60% being the expense ratio. This is a large growth blend diversified fund that has 290 different stocks in it holdings with the top 10 having 15.70% of the total assets of this fund.
The sectors where this fund is invested in 22.2% in financial, 13.5% in industrial materials, 12.5% in consumer goods, 12.2% in energy stocks and 8.5% in hardware. 22.7% of the assets of this fund are made with foreign stocks so some volatility should be expected. The volatility measures of this fund for the past three years as compared to the S&P 500 are an R squared of 90 and a beta of 1.06 with a standard deviation of 22.51.
Because this fund has had a history of bad investments and low returns it is not considered a favorite or good investment by many investors in the market place. This fund has made headway as far as returns are considered and should continue. But this is one of the mutual funds that investors should keep an eye on if their money is in it.
The Fidelity Destiny II Fund (FDETX) is not the bright destiny like the name implicates at this time, but that could change.
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