How a Fidelity Fund Manager Blends Growth With Income
Why earnings growth, yield and valuation are the critical components of stock performance.
Combines growth and value investing by analyzing earnings, dividends and valuations to find underappreciated total return opportunities
Uses dividend yield, payout ratio and earnings growth to assess income sustainability and manage risk in different environments
Adjusts position sizes based on changing risk-reward profiles rather than frequent trading, aiming for long-term portfolio balance
Matt Fruhan is a portfolio manager in the equity division at Fidelity Investments, where he manages several funds. Cynthia McLaughlin sat down with Fruhan in mid-June to discuss his investment process for the Fidelity Growth & Income fund (FGRIX) and how he approaches factors such as dividends, stock valuation and portfolio turnover.