Shilpa Mehra is a Portfolio Manager and Research Analyst at Fidelity Management & Research Co. LLC, serving since 2009. Her responsibilities include analyzing and rating stocks, particularly in the financial sector focusing on payments and processors. Prior to Fidelity, Ms. Mehra worked in startups and venture capital, specializing in business development and strategy. She holds a Bachelor of Arts in Finance from New York University and an MBA in Finance and Accounting from Columbia University. At Fidelity, she has been the Primary Manager of Fidelity Growth Strategies Fund and its classes since May 21, 2024, and has managed the Fidelity Trend Fund since August 1, 2018. Previously, she managed the Select FinTech Portfolio in multiple roles from 2012 to 2019. Her extensive experience across growth equity, fintech, and venture capital provides valuable perspective for identifying undervalued growth opportunities in the mid-cap space.

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The Fidelity Growth Strategies Fund is a diversified U.S. mid-cap growth equity fund focusing on companies with persistent, above-average growth purchased at sensible valuations. The fund's investment approach centers on the belief that the market often misjudges either the durability or magnitude of growth, presenting an opportunity to generate alpha (risk-adjusted excess returns). The fund managers emphasize identifying companies with durable competitive moats, positive free cash flow, and conservative balance sheets to navigate market volatility. The investment strategy involves fundamental research to identify when the market misprices growth prospects. The fund targets companies with market values between $2 billion and $10 billion that fund managers believe are poised for growth. The portfolio managers remain selective in stock selection, emphasizing companies with durable competitive moats, positive free cash flow, and conservative balance sheets and make all investment choices individually and in light of company-specific opportunities, as well as what we consider a low valuation relative to what we view as the growth potential for that specific company.

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