HEALTH CARE STOCKS overall have struggled in 2022. But FIDELITY SELECT HEALTH CARE SERVICES PORTFOLIO is focused on a bright spot in the sector, allowing it to dramatically outperform other health funds as well as the broad market.
Since the start of 2022, portfolio manager Justin Segalini has kept losses in the fund to just about 1%— remarkable in a period when the S&P 500 is down 23% and the average health industry mutual fund has sunk more than 18%. That puts him at the top of the category (U.S. health funds) for year-to-date and three-year returns—with the latter, 21% annualized, more than double the category average.
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