Fidelity launches Global Communications fund to take advantage of sector shake-up

Reclassification last September

Fidelity International has launched a Global Communications SICAV fund to take advantage of the "unprecedented growth" in the sector.

The launch of the fund follows the MSCI and S&P's re-classification of a number of companies that moved from the Telecoms sector into the new Communications Services sector last year.  Housing 26 companies including Twitter and Netflix, the new sector makes up 10% of the S&P 500.  What will be the impact of significant tech reclassifications for investors? Fidelity's latest launch will be managed by Sumant Wahi who has 18 years' experience researching technology companies. He joined Fidelity in 2014 as senior equity analyst and was recently appointed as a portfolio manager.  The...