Article: Fidelity Advisor Equity Income Fund.

Robert Chow, portfolio manager

Investment Outlook

As portfolio manager of Fidelity Advisor Equity Income Fund, I manage the fund in a conservative manner, balanced by position size, sectors and market capitalization geared toward low volatility. Over the past year, I increased the fund's exposure both to cyclicals and mid- and small-cap companies that I felt were undervalued. Additionally, I mitigated the portfolio's risk by increasing the number of holdings.

Sales Focus

Fidelity Advisor Equity Income Fund may be suitable for investors seeking to diversify their portfolio by adding a large-cap value fund. The fund's value-oriented ...

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