Fidelity Latin America Fund
FLATX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Apr 19, 1993
- CIK
- 0000744822
- Similar Companies
- Business
- Fidelity Latin America Fund (FLATX) is an actively managed open-end mutual fund that seeks capital appreciation by investing primarily in equity securities of Latin American issuers and other investments tied economically to Latin America. The fund normally invests at least 80% of assets in such securities, with a focus on common stocks allocated across countries including Brazil, Mexico, Peru, Chile and others; it employs fundamental analysis of issuers' financial condition, industry position, market and economic factors to select investments and is non-diversified, permitting up to 35% of assets in any industry exceeding 20% of the Latin American market capitalization. Top holdings as of April 30, 2024, include Genomma Lab Internacional SA de CV (health care), Petroleo Brasileiro SA - Petrobras (energy), Afya Ltd. (consumer discretionary), Itausa-Investimentos Itau SA (financials) and Hypera SA (health care), with sector allocations emphasizing financials (31.71%), health care (22.06%) and consumer staples (10.38%). Launched on April 19, 1993, and managed by Fidelity Investments, headquartered in Boston, Massachusetts, the fund targets long-term investors seeking exposure to large-cap blend equities in the Latin America stock category, with net assets of approximately $187 million to $240 million and an expense ratio of 1.04%. In a significant strategic shift announced in March 2024, the Board of Trustees approved a tax-free reorganization plan merging Fidelity Latin America Fund into Fidelity Emerging Markets Fund, pending shareholder approval at a special meeting held on July 16, 2024, with the transaction expected around September 13, 2024 if approved; in connection, the fund closed to new accounts effective March 22, 2024. The portfolio continues active management under Will Pruett, who maintains an overweight in Brazilian small-cap stocks in health care, transportation and consumer discretionary sectors, anticipating benefits from anticipated interest rate cuts. No recent partnerships, funding rounds, acquisitions or new product launches were reported for the fund itself within the last two years.