Fidelity Capital AppreciationFDCAX

Morningstar Rating

Fund Research and Analysis

by Christopher Davis

Fidelity Capital Appreciation's recent resurgence highlights both its virtues and risks.

After a rough start to the year, this offering hit its stride. Through Oct. 15, the fund has rallied nearly 70% since stocks' March 9 low, 11 percentage points Read more

Kudos

Talented, experienced manager with an unorthodox strategy.

Manageable asset base.

Moderate expenses. Read more

Risks

This is not a good pick for those who prefer a rigidly defined investment style.

Fergus Shiel tends to trade quite a bit, so the fund isn't a great fit for taxable accounts.

Willingness to make bets on out-of-favor areas can backfire. Read more

Strategy

Manager Fergus Shiel uses a more eclectic approach. He mixes value and growth, foreign and domestic, and all sizes of stock. Shiel looks for earnings growth and turnarounds but also for stocks with P/E Read more

Management

Manager Fergus Shiel has run this fund since October 2005 and is a Fidelity veteran: He ran several of the firm's sector funds and diversified offerings, such as Fidelity Fifty FFTYX and Fidelity Independence, before leaving to start a hedge fund in Read more

Inside Scoop

Fergus Shiel took the helm of this fund in November 2005. Shiel is a Fidelity veteran, having run Fidelity Independence from mid-1996 through April 2003. He's a true original, Read more

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