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Fidelity Gets Aggressive with Advisors

Family will offer an aggressive growth fund for sale through planners.

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Fidelity Investments will launch a new aggressive growth fund for purchase through financial advisors this month. Beso Sikharulidze, the 35-year-old former manager of the Fidelity Convertible Securities Fund (FCVSX), will manage Fidelity Advisor Aggressive Growth, which will be available by November 15. The fund will likely fall in the mid-cap range of the investment style universe but will have the leeway to invest in both small and large companies, and foreign and domestic stocks.

When deciding to roll out the fund, Fidelity no doubt had an eye on the sizable cash inflows garnered by Fidelity Aggressive Growth (FDEGX), the firm's once-hot no-load offering. Despite a manager change earlier this year, as well as a lackluster return so far in 2000, the fund has been one of Fidelity's best-selling offerings. The addition of the fund also helps round out Fidelity's advisor lineup, which the company has expanded in recent years.

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