Have you suffered losses investing in Fidelity Select Gold Portfolio? If so, the securities attorney of The White Law Group may be able to help you recover your losses through a FINRA arbitration claim against the brokerage firm that recommended the investment.
According to Bloomberg, Fidelity Select Gold Portfolio is an open-end fund incorporated in the USA. The Fund’s objective is capital appreciation. The Fund normally invests at least 80% of assets in securities of companies engaged in gold-related activities and operations, such as exploration, mining, processing or dealing in gold, and in gold bullion or coins, and to a lesser degree in other precious metals. The fund, according to Bloomberg, is down over 26% in the last year.
Precious metal funds, like the Fidelity Select Gold Portfolio, are high risk investments because their performance is directly tied to the price of one or more commodities and those prices can swing dramatically depending on the world economy and demand for the commodity.
Precious metal and gold mutual funds can oftentimes be found when researching specialty offerings. When done appropriately (i.e. in small amounts), investments in precious metals offer additional diversification to go along with a balanced portfolio. However, such investments can be inherently risky if an investor over-concentrates their portfolio in such products.
Brokerage firms are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations made are suitable in light of the client’s age, investment experience, net worth, income, and investment objectives.
If a brokerage firm fails to perform adequate due diligence or makes an unsuitable investment recommendation, the firm can be held responsible for the losses in a FINRA arbitration claim.
If you suffered losses in Fidelity Select Gold Portfolio and would like to discuss your litigation options, please call the securities attorneys of The White Law Group at 312/238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. The firm represents investors in FINRA arbitration claims throughout the country. For more information on the firm, visit https://www.whitesecuritieslaw.com.