Morningstar Rating

Fund Research and Analysis

by Greg Carlson
Will Fidelity Advisor Capital Development's future be a lot brighter than its recent, cloudy past?

Lately, this fund has been a day late and a dollar short. Manager Harlan Carere, who took over the fund in November 2007, uses a mix of top-down, macroeconomic analysis and bottom-up stock selection to build the portfolio.  Read more 

Kudos

Risks

Manager Harlan Carere has no prior record running a diversified growth fund and is off to a poor start here. Read more 

Strategy

This fund's manager looks for mid- and large-cap companies with rapid growth rates. He won't hesitate to formulate short- or long-term views on global commodity prices, trends within industries, government subsidies, or any other factors that may help a group of companies outperform for a short or long period.  Read more 

Management

Harlan Carere took over this fund in late 2007. His experience includes stints at several domestic sector-focused funds, as well as management of a technology fund for overseas investors while he worked in Fidelity's London office.  Read more 

Inside Scoop

Manager Harlan Carere has an even more eclectic style than previous skipper Adam Hetnarski, who delivered mediocre returns during his several-year tenure. Carere will own nearly anything under the sun as he seeks to find the best values, not just from within this fund's S&P 500 benchmark but from outside it, too.  Read more 

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