Is Fidelity Asset Manager 85% (FAMRX) a Strong Mutual Fund Pick Right Now?

By Zacks4 days ago

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Having trouble finding an Allocation Balanced fund? Fidelity Asset Manager 85% (FAMRX) is a potential starting point. FAMRX bears a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.

Objective

FAMRX is one of many Zacks' Allocation Balanced mutual funds to pick from. Allocation Balanced funds seek to invest in a balance of asset types, like stocks, bonds, and cash, though including precious metals or commodities is not unusual; these funds are mostly categorized by their respective asset allocation. Investors utilize Allocation Balanced funds as a way to get a good start with diversified mutual funds, as well as for core holdings in a portfolio of funds.

History of Fund/Manager

Fidelity is responsible for FAMRX, and the company is based out of Boston, MA. The Fidelity Asset Manager 85% made its debut in September of 1999 and FAMRX has managed to accumulate roughly $3.01 billion in assets, as of the most recently available information. Geoffrey Stein is the fund's current manager and has held that role since June of 2009.

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