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Strategies & Market Trends : Fidelity Select Sector funds
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To: Larry Dambra who wrote (4815)10/7/2002 12:15:22 AM
From: Angler   of 4916
 
The 3% load in Fidelity sector funds and some others like FLPSX are one time loads IF one exchanges from it into another 3% load fund (like the above). The 3% load can even be carried into a no load fund in the family without loss and is recoverable without cost if one wants to again invest in a sector fund starting from scratch.

But in that case you must remember where you put that 3% load portion in other non load funds like feqix or fdvlx to retrieve it later, but if you dumped it into a Select Money Market fund like fslxx you can just continue on like nothing happened.

The only penalty paid is as Julius mentioned 3/4% on trades of less than 30 days or in the case of fresx 90 days. Pay attention to the particulars in the foot notes. Some foreign funds must be held for longer time periods to avoid penalties even higher than the sector group.

If you keep a sector minimum in an IRA acc't just to reserve additional eligibility to trade more dollars into it, the new money will come in free of load as I understand it?

Angler
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