The actively managed strategy aims to offer long/short positioning to seek long-term capital growth, while managing volatility to complement traditional long only strategies.
Fidelity Investments Canada (Fidelity), the Canadian arm of Boston-headquartered Fidelity Investments, has launched the Fidelity Global Opportunities Long/Short Fund as well as an exchange-traded fund (ETF) series. The alternative mutual fund will invest across a wide variety of businesses The long/short fund will enable the portfolio managers to buy and hold securities they think are undervalued with the expectation they will increase in value over time (long positions) and short-sell stock