Saying that advisors are "clearly looking abroad" for new investment opportunities, Fidelity Investments announced the launch of a new international fund.
   The Fidelity International Value Fund, which offers both retail and advisor share classes, will seek opportunities in undervalued non-U.S. securities, the company said.
   The fund will be broadly diversified across different countries and regions of the world and is designed as a core international holding for value investors, according to Fidelity.
   The fund's benchmark will be the MSCI EAFE Value Index.
   "With approximately two-thirds of new advisor-sold fund assets going into international this year, advisors are clearly looking abroad," said Martha B. Willis, executive vice president of Fidelity Investments Institutional Services.
   The fund will be managed by George Stairs, a 20-year industry veteran who joined Fidelity in 2005, according to the company.