FLSA Stock Fund Price and Chart — NEO:FLSA

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FLSA chart

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About FIDELITY LONG/SHORT ALTERNATIVE FUND

The fund utilizes both long and short exposure strategies to maintain a diverse portfolio primarily consisting of Canadian and US equities. The team conducts bottom-up fundamental analysis to uncover overlooked market opportunities. This analysis covers industry structure, profit pool analysis, and evaluations of company culture and character. Typically, the fund holds long positions at 100-150% of NAV and short positions of roughly 30-50%. However, the gross exposure threshold remains under 300%. Risk management involves earnings assessment, financial transparency, ESG practices, and hedging for mitigation. Investments include various equity and fixed-income securities, with potential engagement in securities lending, derivatives, and commodities. During market volatility, the fund may temporarily reallocate investments to cash or government-backed fixed-income securities. The fund is not bound by any particular investment style, allowing for allocation of up to 10% of assets to foreign equities.