We highlighted the Fidelity Nordic Fund (FNORX, last change: 2.38%) as the strongest-performing Fidelity international fund in previous blog posts. FNORX has returned 14.34% in the last three-months, but now it is in an overbought condition. We wouldn’t be surprised to see a correction in the next few days in the Northern European markets. Consequently, this may be a good opportunity to take gains.
In spite of the market correction today, the Fidelity Nordic Fund (FNORX, last change: 0.54%) has made a new 52-week high. FNORX has far outpaced other Fidelity international funds so far in 2013. Investors looking for international diversification might want to take a closer look at Northern Europe.