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Fidelity Adds Value Fund

Fidelity Investments has launched the Fidelity Discovery Value Fund, an all-cap value portfolio benchmarked off the Russell 3000 Value Index. While Fidelity has a much broader slate of growth-oriented funds, this new product underscores the company's interest in value investing, said Phil de Cristo, Fidelity EVP.

Scott Offen, who manages the portfolio for Fidelity, will scrutinize a company's assets, sales, earnings, growth potential and cash flow relative to other companies within the same industry. Offen most recently served as Fidelity's manager of natural resources and energy portfolios.