Fidelity International Growth Fund Q2 2025 Commentary

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Jul. 27, 2025 8:10 PM ETFidelity International Growth Fund (FIGFX)FIGFX, MSCI, MMC, LIN, SIEGY, GEV, GE, AZN, SAFRF, TSM, SEPJF, CRH, ATLKY, SMEGF, CBAUF, SONY, SAP, SBGSF, HTHIY, ASML, CMPGF, RCRRF, TSMWF, SONY:CA, ASML:CA, SNEJF, SMNS:CA, SMNEY, ASMLF, SMAWF, ATLCY, SEPJY, ATLFF, SBGSY, ATLPF, SAPS:CA, SAPGF, AZNCF, SAFRY, RCRUY, CMPGY, CMWAY, GE:CA, GEV:CA, HTHIF, HTCI:CAFidelity Investments785 FollowersSummaryThe Fidelity International Growth Fund gained 11.12% in Q2 2025, trailing the MSCI EAFE Growth Index, but maintains strong long-term outperformance versus peers and benchmarks.Our bottom-up, fundamental approach targets companies with structural growth, high barriers to entry, and attractive valuations, though recent underweights in Japan and financials detracted.We see attractive valuations in international equities versus the U.S., with monetary easing and currency trends supporting global diversification despite macroeconomic and geopolitical risks.We remain focused on industrials and technology, while underweighting health care and consumer staples, and continue to avoid utilities and real estate entirely.Klaus VedfeltPerformance ReviewFor the three months ending June 30, 2025, the fund's Retail Class shares gained 11.12%, trailing the 13.65% advance of the benchmark MSCI (MSCI) EAFE Growth Index (Net MA).Importantly, longer-term comparisons remain quite favorable.InternationalThis article was written byFidelity Investments785 FollowersFidelity’s mission is to strengthen the financial well-being of our customers and deliver better outcomes for the clients and businesses it serves. With assets under administration of $12.6 trillion, including discretionary assets of $4.9 trillion as of December 31, 2023, Fidelity focuses on meeting the unique needs of a broad and growing customer base. Privately held for 77 years, Fidelity employs more than 74,000 associates with its headquarters in Boston and a global presence spanning nine countries across North America, Europe, Asia and Australia. Note: This account is not managed or monitored by Fidelity, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Fidelity's official channels.CommentsRecommended For You