Fidelity Advisor Biotechnology Fund
FBTIX
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- Fidelity Advisor Biotechnology Fund (FBTIX) is an open-end mutual fund managed by Fidelity Investments that seeks capital appreciation by investing primarily in common stocks of companies engaged in biotechnology. The fund normally invests at least 80% of its assets in securities of domestic and foreign issuers principally involved in the research, development, manufacture, and distribution of biotechnological products, services, and processes, as well as companies that benefit significantly from scientific and technological advances in biotechnology; it employs fundamental analysis of issuers' financial condition, industry position, market conditions, and economic factors to select investments and is classified as non-diversified with a focus on the health care sector, particularly biotechnology. Share classes include Class I (FBTIX) with a net expense ratio of 0.71%, Class A (FBTAX), Class M (FBTTX), and Class C (FBTCX), targeting institutional and retail investors with minimum initial investments starting at $100,000 for Class I; as of late 2025, the fund holds approximately 79 securities, manages total assets of around $1.9 billion, and exhibits a portfolio turnover rate of 51%. The fund operates globally with exposure to U.S. and international biotechnology firms and is part of Fidelity Investments' broader lineup of sector-specific equity strategies. Launched on December 27, 2000, and headquartered in Boston, Massachusetts, at Fidelity Investments' 245 Summer Street address, the fund has maintained portfolio management continuity with key managers such as Rajiv Kaul (since before 2018) and Eirene Kontopoulos (since July 2018). No major acquisitions, mergers, funding rounds, name changes, or strategic reorganizations have been reported for the fund in 2024 or 2025; it continues to emphasize active management amid strong year-to-date performance exceeding 46% as of November 2025.