Fidelity Large Cap Growth Enhanced Index Fund
FLGEX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Fidelity Commonwealth Trust II DE United States of America
- IPO Date
- Apr 20, 2007
- CIK
- 0001364923
- Similar Companies
- Business
- Fidelity Large Cap Growth Enhanced Index Fund (FLGEX) is an open-end mutual fund managed by Fidelity Management & Research Company LLC (FMRCo), a member of the Fidelity Investments family of funds domiciled within Fidelity Concord Street Trust, seeking capital appreciation by investing primarily in common stocks of large-cap growth companies. The fund normally invests at least 80% of its assets in securities included in the Russell 1000 Growth Index, a market capitalization-weighted benchmark measuring the performance of the large-cap growth segment of the U.S. equity market; it employs a quantitative, multifactor statistical investment process to select stocks with improving fundamentals and reasonable valuations, balancing risk and return through dynamic factor allocation that incorporates top-down market indicators and bottom-up insights. At least 80% of assets are committed to common stocks of domestic and foreign issuers exhibiting growth characteristics, such as higher price-to-book ratios and elevated forecasted growth rates; the portfolio typically holds around 93 positions, with active management aiming to outperform the benchmark while managing sector, industry, and position sizing relative to the index. Launched on April 19, 2007, with headquarters for Fidelity Investments in Boston, Massachusetts, the fund operates within the large growth equity category, targeting institutional and retail investors seeking exposure to U.S. large-cap growth stocks; as of recent data, it manages approximately $2.37 billion in assets. Geographically, the strategy focuses predominantly on U.S.-domiciled companies, with potential for foreign issuer inclusion mirroring the benchmark's composition. Portfolio management includes co-managers Maximilian Kaufmann, Shashi Naik, and Anna Lester, reflecting ongoing team enhancements; Shashi Naik joined the management team in 2014 alongside others such as Patrick Waddell, Louis Bottari, and Peter Matthew to bolster the quantitative enhanced indexing approach. The fund's expense ratio stands at approximately 0.45%, with a turnover rate around 108%, and it has delivered a 5-year return of 83.45% as of late 2024, amid assets growing significantly from earlier levels of $149 million. No major acquisitions, funding rounds, or structural reorganizations have been reported for the fund in the last 1-2 years; performance for the fiscal year ended August 31, 2023, showed a 19.85% gain, trailing the benchmark's 21.94% amid market rallies driven by decelerating inflation.