/CNW/ - Fidelity Investments Canada ULC today announced the closure of purchases by new investors into Fidelity Canadian Opportunities Fund and Fidelity.
Katie Keir
After plunging in March 2020, the S&P/TSX composite index recovered throughout the rest of the year and boasted a one-year return of more than 7% in early January.
Canadian stocks lagged their U.S. counterparts last year, however. The S&P 500 index had a one-year total return of more than 17% over the same period, despite geopolitical and economic hurdles south of the border.
While energy and financials were hit particularly hard, finding opportunities anywhere was far from easy last year, said Hugo Lavallée, portfolio manager with Toronto-based Fidelity Investments Canada ULC in Montreal and lead manager of the Fidelity Canadian Opportunities Fund.