Microsoft, Tesla Fuel ESG Gains for 32-Year-Old Fidelity Fund
- The two stocks account for more than a quarter of fund assets
- Fund co-manager calls Elon Musk’s Tesla a ‘visionary company’
Tesla Model 3
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
Hundreds of billions of dollars are pouring into new or conveniently renamed funds billed as good for the environment and society.
But one Fidelity Investments mutual fund that’s been around for more than three decades is among this year’s best-performing sustainability-focused funds, with a 24% return, driven by shares of Microsoft Corp. and Tesla Inc., its top holdings.