Fidelity Select Gold Portfolio (FSAGX) is an actively managed open-end mutual fund offered by Fidelity Investments that seeks capital appreciation by investing primarily in securities of companies engaged in gold-related activities. The fund normally invests at least 80% of its assets in common stocks, gold bullion, or coins of companies principally involved in the exploration, mining, processing, or dealing in gold; to a lesser degree, silver, platinum, diamonds, or other precious metals and minerals; and up to 25% of assets in gold and other precious metals through a wholly-owned subsidiary. It focuses on mid-cap growth securities within the precious metals and minerals industry segment, targeting investors seeking exposure to gold and related equities without direct commodity ownership.
Launched on December 15, 1985, and headquartered in Boston, Massachusetts, the fund operates globally with holdings in companies across North America, Australia, South Africa, and other major gold-producing regions. Fidelity Select Gold Portfolio maintains net assets of approximately $3.94 billion as of the latest reports and carries an expense ratio of 0.76%. The fund is part of Fidelity Investments' Select Portfolio series, with no notable subsidiaries or parent relationships beyond Fidelity's broader asset management structure.
In recent developments, Boris Shepov assumed the role of portfolio manager in December 2024, succeeding prior management and bringing expertise from Fidelity's Equity division where he serves as a research analyst focused on industrial equipment and materials sectors. The fund has demonstrated strong performance, delivering a 59.36% year-to-date return and 55.04% over the past 12 months as of late 2025, amid elevated gold prices and sector tailwinds. No major acquisitions, funding rounds, partnerships, or strategic reorganizations have been announced in the last 1-2 years; however, ongoing portfolio adjustments reflect heightened allocations to leading gold miners and producers in response to market dynamics.