(PUB) Morningstar FundInvestor
July 2 014
Morningstar FundInvestor
5
Data through June 30, 2014 Fidelity Growth Company
Ticker
Status Yield Total Assets
Mstar Category
FDGRX Closed 0.1% $43,060 mil
Large Growth
Morningstar Analyst Rating 06-26-14
Investment Style Equity Stock %
Historical Profile Return Risk Rating High Above Avg Highest
100% 99% 99% 100% 100% 100% 100% 100% 100%
„
Manager Change Partial Manager Change
17.0 24.0 31.0 38.0
Morningstar Pillars Process Performance
Growth of $10,000
∞ ∞ ∞ ∞ ∞
Positive Positive Positive Positive Positive
Investment Values of Fund Investment Values of S&P 500
People Parent Price
10.0
Performance Quartile (within Category) History
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 06-14
Morningstar Analyst Rating Morningstar evaluates mutual funds based on five key pillars, which its analysts believe lead to funds that are more likely to outperform over the long term on a risk-adjusted basis. Analyst Rating Spectrum Œ „ ´ˇ ¨
50.07 41.36 12.68 11.61
56.07 12.12
63.63 13.50
69.71 9.56 -6.23 0.49 0.00 9.56 0.00 0.00 0.96 -0.25 26
82.98
48.96
68.98 41.15 14.69
83.15 20.55
80.89 0.67 -1.44 -1.97 0.06 0.61
126.89 119.88 93.38
NAV
-40.90 19.89
18.52
37.61
6.47 -0.67 0.16 0.00 6.47
Total Return %
1.24 5.82 0.14
8.59 8.24 0.02
14.40
-3.90 -2.46 0.09
5.49 3.84 0.00
2.52 3.26 0.24
5.22 4.13 0.22
+/-S&P 500
8.08 0.00
3.94 0.24
+/-Russ 1000Gr Income Return % Capital Return %
0.00
41.36
11.98
13.48
-40.99 19.89
40.91
20.55
18.28
37.39
6
14
10
18
53
23
12
24
17
17
20
Total Rtn % Rank Cat
Pillar Spectrum Positive ∞
0.00 0.00 0.83 -0.03
0.07 0.00 0.82 0.15
0.01 0.00 0.94 -0.32
0.00 0.59 0.93 -0.08
0.08 0.01 0.96 0.15
0.12 0.01 0.93 0.27
0.00 0.00 0.89 0.02
0.05 2.71 0.84 0.10
0.19 2.28 0.90 0.16
0.21 8.12 0.83 0.27
0.00 0.70
Income $
§ Negative
¶ Neutral
Capital Gains $ Expense Ratio % Income Ratio % Turnover Rate % Net Assets $mil
. . .
Performance 06-30-14 1st Qtr 2nd Qtr
3rd Qtr
4th Qtr
Total
50 . .
54
49
55
64
36
36
33
26
2010 2011 2012 2013 2014
6.02 -11.49 15.06 11.64 20.55 8.29 1.77 -15.20 7.74 0.67 21.16 -6.58 7.30 -2.41 18.52 8.49 3.89 13.04 8.01 37.61 2.58 . . . .
24,079 23,381 22,700 23,529 28,622 28,159 21,563 37,073 30,070 27,415 25,180 22,609
Portfolio Analysis 05-31-14 Share change since 04-14 Total Stocks:362 Sector
Rating and Risk Time Load-Adj
PE Tot Ret% % Assets
Morningstar
Morningstar Risk vs Cat
Morningstar Risk-Adj Rating
Period Return % Rtn vs Cat
Apple Inc
Technology 15.2 13.96 4.59
1 Yr 3 Yr 5 Yr
29.99 16.63 21.37 10.79 13.32
Trailing
Total
+/-
+/- Russ %Rank Growth of
Salesforce.com Inc Google Inc Class A Google Inc Class C Facebook Inc Class A
Technology
-4.64 3.79
.
Return% S&P 500 1000Gr
Cat
$10,000
+Avg High High
+Avg +Avg +Avg
Technology 31.3 1.92 2.46
3 Mo 6 Mo 1 Yr
3.79 -1.44 6.47 -0.67 29.99 5.38 16.63 0.05 21.37 2.54 10.79 3.01 7.37 3.02
-1.34 0.16 3.07 0.37 2.13 2.59 4.30
68 10,379 20 10,647 17 12,999 15 15,865 5 26,336 4 27,862 7 29,057
Technology 30.6
2.44
.
10 Yr Incept
Technology 84.0 15.83 2.24 Hlth care 87.7 11.52 2.04 Technology 22.2 19.66 1.98 Hlth care 30.1 8.14 1.67 Hlth care 95.2 17.58 1.45 Cnsmr Def 31.9 49.96 1.34 Technology 21.6 8.82 1.28 Basic Mat 24.6 5.29 1.19
Regeneron Pharmaceutical
3 Yr Avg 5 Yr Avg 10 Yr Avg 15 Yr Avg
NVIDIA Corp
Other Measures
Standard Index
Best Fit Index S&P 500 M* U.S. Grwth TR
Gilead Sciences Inc Alexion Pharmaceuticals Keurig Green Mountain In
Alpha
-2.0 1.15
-1.1 1.10
Beta
Qualcomm Inc Monsanto Co
R-Squared
81
94
Tax Analysis Tax-Adj Rtn% %Rank Cat Tax-Cost Rat %Rank Cat 3 Yr (estimated) 5 Yr (estimated) 10 Yr (estimated) 15.57 16 0.91 66 20.69 5 0.56 64 10.45 3 0.30 39 Potential Capital Gain Exposure: 49% of assets
Standard Deviation
15.70 16.63
Union Pacific Corp Microsoft Corp Amazon.com Inc Alkermes PLC Visa Inc Class A
Industrl
20.4 19.15 1.18
Technology 15.4 10.93 1.14
Mean
Cnsmr Cyc Hlth care
-18.56 1.14 23.78 1.13
. .
Sharpe Ratio
1.06
Finan Svs 25.4 -3.17 1.03 Comm Svs 19.1 0.89 0.99 Cnsmr Cyc 26.0 -24.39 0.98 Cnsmr Def 17.1 2.70 0.98
Morningstar’s Take by Katie Rushkewicz Reichart, CFA 06-26-14 Fidelity Growth Company keeps up the pace. This closed fund placed in the large-growth
Comcast Corp Class A Lululemon Athletica Inc Philip Morris Internatio
technology sectors stands out, that hasn’t precluded Wymer from capitalizing on other types of growth plays. In 2014’s first half, for instance, the fund got a boost from several airlines that have benefited from industry consolidation, including Delta Airlines DAL. Those stocks helped pick up the slack for picks that fell flat, including Lululemon LULU, Salesforce.com CRM, and Amazon.com AMZN, and for the lackluster performance across the fund’s technology holdings. To be sure, there’s ample risk built into this fund’s growth-fueled approach, particularly as valuations have crept up in a rising market. That could lead to a steeper decline than the category norm in a market pullback, which has historically been the case: The fund has lost 107% as much in down markets. The fund has more than made up for that on the upside, gaining 118% as much as its average peer. But its dollar-weighted returns during the past 15 years lag its total returns by 3 percentage points. Investors need to hold on through the good times and bad to reap its full benefits.
Current Investment Style
Sector Weightings
% of Stocks
Rel S&P 500 High
3 Year Low
Morningstar Category’s top decile for the trailing one-, three-, five-, 10-, and 15-year periods through June 20, 2014, speaking to its consistent success under manager Steve Wymer. Despite managing more than $50 billion in assets strategywide, Wymer has continued executing well, seeking out firms where strong pricing power or competitive edges provide sustainable growth. That approach has historically led to a heavy dose of technology and health-care stocks, including an above-average stake in biotechnology (13.4% of assets as of April versus the category’s 9.6%). Fortunately, Wymer’s stock-picking has proved especially adept in those areas, according to Morningstar attribution. Wymer works closely with select analysts in those sectors who are familiar with his style of investing, which helps him weed through the onslaught of research produced by Fidelity’s large research team. While the fund’s success in the health-care and
Market Cap % Giant 37.3 Large 31.2 Mid 21.2 Small 8.2 Micro 2.2 Avg $mil: 32,602
Value Blnd Growth
Large Mid Small
Cyclical 20.61 0.72 BasicMat 2.68 0.88 4 2 CnsmrCyc12.62 1.47 17 13 FinanSvs 5.15 0.33 7 5 Real Est 0.16 0.11 0 0 Sensitive 47.97 1.10 CommSrvs 1.61 0.40 2 0 Energy 5.93 0.55 9 4 Industrl 8.91 0.78 8 6 Technlgy 31.52 1.79 37 31 Defensive31.41 1.14 CnsmrDef12.15 1.00 13 10 Hlthcare 19.26 1.63 21 14 Utilities 0.00 0.00 . .
h r t y u j i o p a k s d f
Value Measures Price/Earnings Price/Book Price/Sales Price/Cash Flow Dividend Yield % Long-Term Erngs Book Value Sales Cash Flow Historical Erngs Growth Measures
Rel Category
20.86 3.52 2.12 10.55 1.41 13.75 10.37 8.71 12.19 13.10
1.16 1.23 1.17 1.06 1.07 1.02 1.00 1.09 0.94 0.59
% Rel Category
Composition - Net
Cash 0.0 Stocks 99.7 Bonds 0.0 Other 0.3 Foreign 6.2
Address:
Fidelity Mt Vernon Street Trust Boston, MA 02109 800-544-8544
Minimum Purchase: Min Auto Inv Plan:
Closed Closed No-load 0.30% 3Yr:$265 Annually
Add: . Add: .
IRA: .
Profitability
% Rel Category
Sales Fees:
Return on Equity Return on Assets Net Margin
16.11 7.41 11.38
0.77 0.76 0.81
Web Address: Inception: Advisor: Subadvisor: NTF Plans:
www.fidelity.com
Management Fee:
(% of Stock)
01-17-83
Actual Fees:
Mgt:0.65% Dist: .
Fidelity Management & Research Company
Expense Projections: Income Distribution:
5Yr:$460 10Yr:$1025
FMR Co., Inc. (FMRC)
Fidelity Retail-NTF, CommonWealth NTF
Mutual Funds ß ®
© 2014Morningstar, Inc.All rights reserved. The information herein isnot representedorwarranted tobe accurate, correct, completeor timely.Pastperformance isnoguaranteeof future results.Accessupdated reports at To order reprints, call 312-696-6100. mfb.morningstar.com.
EQ
Made with FlippingBook