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Fidelity Small Cap Discovery Downgraded as Myers Exits

The departure of a long-tenured manager is a big loss for the fund; we lowered our rating to Bronze from Gold.

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The following is our latest Fund Analyst Report for Fidelity Small Cap Discovery Fund (FSCRX). Morningstar Premium Members have access to full analyst reports such as this for more than 1,000 of the largest and best mutual funds. Not a Premium Member? Gain full access to our analyst reports and advanced tools immediately when you try Morningstar Premium free for 14 days.

Manager Chuck Myers will step down at the end of 2017. While there's a reasonable transition plan and successor in place, his departure is a big loss. We have downgraded the fund's Morningstar Analyst Rating to Bronze from Gold.

Katie Rushkewicz Reichart does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.