Fidelity Select Automotive (FSAVX) seeks capital appreciation. The fund is non-diversified.

The fund primarily invests in securities of companies engaged in the manufacture, marketing or sale of automobiles, trucks, specialty vehicles, parts, tires and related services. It may invest in securities of foreign issuers.

The fund’s key holdings include Johnson Controls Inc. (JCI - Analyst Report), Autoliv Inc. (ALV - Analyst Report) and BorgWarner Inc. (BWA - Analyst Report).

Fidelity Japan Smaller Companies (FJSCX) seeks long-term capital growth through investment in equity securities of Japanese issuers.

The fund normally invests primarily in common stocks of companies with smaller market capitalization. However, it may also invest in securities of Japanese issuers with larger market capitalizations.

The fund has topped the total returns of its benchmark index in the last 1 and 3-year periods. It offers dividends and capital gains annually in December.

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Fidelity Capital & Income (FAGIX) was incepted in November 1977. The investment seeks income and capital growth.

The fund typically invests in equity and debt securities, including defaulted securities, with an emphasis on lower-quality debt securities. It may invest in both domestic and foreign issuers.

Shareholders have to make a minimum initial investment of $2,500 to enter this Zacks#1 Rank (“Strong Buy") fund. It has an expense ratio of 0.74%.

Fidelity Select Automotive (FSAVX) seeks capital appreciation. The fund is non-diversified.

The fund primarily invests in securities of companies engaged in the manufacture, marketing or sale of automobiles, trucks, specialty vehicles, parts, tires and related services. It may invest in securities of foreign issuers.

The fund’s key holdings include Johnson Controls Inc. (JCI), Autoliv Inc. (ALV) and BorgWarner Inc. (BWA).

Fidelity Japan Smaller Companies (FJSCX) seeks long-term capital growth through investment

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Auburn Hills, Michigan based BorgWarner Inc. (BWA), a leading manufacturer of powertrain products for the world's major automakers, opened a new diesel and gasoline turbocharger facility in Rzeszow , Poland , southeast of Krakow. The facility has a total annual capacity of 500,000 diesel and gasoline turbochargers and will cater to automakers primarily in Europe. The company’s new plant has commenced production within a year of beginning the facility’s construction in March 2008. This is BorgWarner’s 24th facility in Europe. Europe is already a key market for BorgWarner’s turbochargers. The company is one of the six major suppliers of turbochargers in North America and Europe, with a 25% market share. Turbochargers are used in 41% of the cars in Europe. BorgWarner expects strong diesel engine growth from 16 million units in 2007 to 20 million units in 2013. Sustained demand for the company’s diesel turbochargers ...

BorgWarner, Inc. (BWA) is expected to benefit from the growing demand for its strong technology-based product portfolio. About $1.95 billion of new powertrain business is expected between 2008 and 2010. The company expects a 500% increase in demand for its DualTronic transmission modules by 2013.

Moreover, the company has healthy financials with low debt and has taken further initiatives to maintain margins in the challenging North American industry environment. However, due to high raw material costs and price concessions to automotive makers, we rate the shares a Hold, with a target of $40, which is derived from our 2008 EPS estimate, and a forward multiple of 13.7x.

On September 3, BorgWarner announced that it will supply Cam Torque Actuated (CTA) variable cam timing technology for the upgraded Duratec 3.0-liter V-6 engine, debuting in the 2009 Ford Escape. CTA a patented technology of BorgWarner improves engine performance and fuel the economy

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