Fidelity Global Innovators to High Risk in Jan 2026

Introduction

Fidelity Investments Canada will raise the risk rating for Fidelity Global Innovators Fund and Fidelity Global Innovators Investment Trust from Medium-to-High to High, effective January 9, 2026, citing elevated 10-year volatility and sustained benchmark-beating returns under portfolio manager Mark Schmehl. The fund facts are scheduled to be updated on or around November 10, 2025, to reflect the change under the Canadian Securities Administrators standardized risk classification framework.

Performance and Benchmarks

As of August 31, 2025, the fund has demonstrated strong performance, outpacing its benchmarks and peers. Morningstar has assigned the fund an overall 5-star rating.

The fund has also shown significant excess returns when compared to the NASDAQ Composite Index.

Risk Rating Rationale

The risk rating revision follows the CSA‘s standardized methodology based on the 10-year annualized standard deviation of fund returns, a measure that has risen alongside global market turbulence. Over the past decade, swings tied to trade frictions, the COVID-19 shock, inflation pressures, and interest-rate cycles have amplified equity volatility, particularly for innovation-led growth exposures. Despite the higher risk label, Fidelity states there are no changes to the fund’s investment objective, strategy, or portfolio leadership.

Strategy and Management

The mandate seeks long-term capital appreciation by investing globally in companies with the potential to be disruptive innovators, aligning with investor interest in transformative growth themes. Portfolio manager Mark Schmehl continues to run the strategy with an emphasis on innovation-driven equity selection, aiming to extend a record of long-term outperformance versus benchmarks and peers. Fidelity notes that funds remain available through advisors and online platforms, supported by the firms Canadian business with $320 billion in assets under management as of August 31, 2025.