By Morningstar Canada | 01/11/17

Fidelity Investments Canada today launched Fidelity Global Innovators Class, whose mandate is to invest globally in shares of companies that are "disruptive innovators" in their respective industries.

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As described in the prospectus, these may include companies that are developing or producing innovative technologies; using new technology to displace established markets, methods or industries; becoming leaders in new and emerging industries; or using innovative business models, processes or technologies to gain a competitive edge.

Managed by Fidelity's Mark Schmehl, who is based in Toronto, the fund may invest in publicly listed companies of any size, and may also hold private offerings. The manager will seek to identify growth companies that have strong fundamentals and that will benefit from innovation. Examples of the many types of businesses that the fund will invest in include artificial intelligence, robotics, cloud computing, online retailing, social media and genomics.

The fund, which has multiple purchase options, is also available in currency-neutral and U.S.-dollar classes.

Schmehl will continue to manage Fidelity Canadian Growth Company and Fidelity Special Situations.

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