Fidelity MoneyBuilder Growth receives AA rating from S&P

Fidelity International is pleased to announce that S&P has awarded Fidelity MoneyBuilder Growth fund an AA rating after a successful fund manager transition.

Following a meeting with James Griffin, after he took on management of the Fidelity MoneyBuilder Growth fund in January, S&P has awarded the fund an AA rating recognising Mr Griffin's consistently strong fund management performance.

According to Standard & Poor's an AA fund "demonstrates a very high standard of quality in its sector based on its investment process and management's consistency of performance as compared to funds with similar objectives."

James Griffin, Manager of Fidelity MoneyBuilder Growth says: "I am naturally very pleased that MoneyBuilder Growth has been awarded an AA rating from S&P in the first three months of my managing of the fund.

"The fund is currently overweight mining companies, such as Lonmin, Anglo American and Rio Tinto, playing on valuable scarce assets, whilst I have a keen interest in BG over the oil majors. In terms of financials, I am overweight Barclays, HSBC and Standard Chartered as I believe these three will benefit from the withdrawal of competition in the market. I am favouring Tesco and GlaxoSmithKline as they are attractive market leaders whilst Serco and Immarsat are good for secular growth themes."

Rob Fisher, Head of UK Personal Investments at Fidelity International, comments: "We are delighted that S&P has awarded MoneyBuilder Growth Fund an AA rating. The Fund is a long-standing favourite with self-directed investors, and continues to offer a great way to access our proven UK stockpicking capabilities."