Focuses on companies with durable business models, good capital allocation and strong management teams.
30+
years of industry experience
For accredited investors only
This website is intended for use by Accredited investors (as such term is defined in the Securities Act (Ontario) or National Instrument 45-106 - Prospectus Exemptions, as applicable) resident in, or otherwise subject to the securities laws of, any province or territory of Canada, or pursuant to such other exemptions from the prospectus requirements under applicable securities legislation.
Examples of who qualifies as an accredited investor:
- an individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that, before taxes but net of any related liabilities, exceeds $1,000,000;
- an individual who beneficially owns financial assets having an aggregate realizable value that, before taxes but net of any related liabilities, exceeds $5,000,000;
- an individual whose net income before taxes exceeded $200,000 in each of the two most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of the two most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year;
- an individual who, either alone or with a spouse, has net assets of at least $5,000,000;
- a person (other than an individual or investment fund) that has net assets of at least $5,000,000 as shown on its most recently prepared financial statements provided that such person has not been created solely to purchase or hold the Units being purchased; and
- a person acting on behalf of a full managed account managed by that person, if that person is registered or authorized to carry on business as an adviser or the equivalent under the securities legislation of a province or territory of Canada or a foreign jurisdiction.
"Financial assets" generally means cash and securities and "related liabilities" means liabilities incurred or assumed for the purpose of financing the acquisition or ownership of financial assets, or liabilities that are secured by financial assets.
This website is not intended to constitute an offer of units of Fidelity Alternative Real Estate Trust (the "Fund"). The information contained herein is qualified in its entirety by reference to the Offering Memorandum ("OM") of the Fund. The material available on this website is published for informational purposes only. It does not constitute a solicitation of an offer to buy or an offer to sell securities, nor should the information be relied upon as investment advice. Units of the Fund are generally only available to Accredited Investors (as described above). The OM contains information about the investment objectives and terms and conditions of an investment in the Fund (including fees) and also contains tax information and risk disclosures that are important to any investment decision regarding the Fund.
Experience that shapes conviction
Darren Lekkerkerker builds portfolios with a clear goal in mind: long–term capital appreciation. His approach focuses on fundamentals, rather than short-term market moves.
6
Lipper Fund Awards*
4
FundGrade A+ Awards*
A focused approach
Fidelity North American Equity Class has been managed by Darren since 2015. His views on what to own, what to avoid, and when to stay the course have shaped the fund's long-term direction.
Fidelity North American Equity Class - Series F |
|
|---|---|
Morningstar North American Equity Category Average |
Source: Morningstar Direct and Fidelity Investments Canada ULC. Performance is relative to the Morningstar North American Equity Category Average. *Returns from October 28, 2015 (inception date of Fidelity North American Equity Class) to December 31, 2025 and are for Series F, net-of-fees. Series F is available only to investors who are eligible to buy this series. Your advisor is: (i) responsible for deciding whether or not you are eligible to buy and continue to hold this series; and (ii) required to sign a Series F dealer agreement with Fidelity Investments. Your dealer may charge other fees. Other series’ performance will vary largely due to fees and expenses. Returns are in Canadian dollars. Past performance is no guarantee of future results.
Standard period returns (%) of Fidelity North American Equity Class
| As of December 31, 2025 | 1 year | 3 year | 5 year | 7 year | 10 year | Since inception |
|---|---|---|---|---|---|---|
| Fidelity North American Equity Class | 18.4 | 25.4 | 16.2 | 18.6 | 14.3 | 14.4 |
| Benchmark* | 17.9 | 22.9 | 16.2 | 16.9 | 14.1 | 14.0 |
| Morningstar Category Average** | 9.5 | 15.7 | 9.9 | 11.8 | 9.7 |
9.7 |
| Category peers beaten | 89% | 95% | 98% | 99% | 95% | 95% |
Source: Morningstar Direct and Fidelity Investments Canada ULC. Performance as at December 31, 2025. Performance figures for periods greater than one year have been annualized. Returns are for Series F, net of fees, in Canadian dollars. Past performance is no guarantee of future results. If you buy other series of Fidelity funds, the performance will vary largely due to different fees and expenses. Investors who buy Series F pay investment management fees and expenses to Fidelity. Investors will also pay their dealer a fee for financial advice services in addition to the Series F fees charged by Fidelity. *The Fund’s benchmark is 70% S&P 500 Index and 30% S&P/TSX Capped Composite Index. *Series F inception date is October 28, 2015. Fidelity North American Equity Class is classified in CIFSC’s North American Equity category. The number of funds in the category (North American Equity) for the standard periods of Fidelity North American Equity Class: 1-year – 167 funds; 3-year – 159 funds; 5-year – 128 funds; 7-year – 89 funds; 10-year – 67 funds; Since Inception – 61 funds. For greater detail see www.morningstar.ca.
Why invest in Fidelity American Equity Fund and ETF Series?
Darren Lekkerkerker brings his investment approach to Fidelity American Equity Fund.
After taking on portfolio management responsibilities in January 2026, he now applies his philosophy and research‑focused process to a longstanding U.S. equity mandate.
Access more of Darren with these Fidelity funds
Discover Darren's approach
An overview of Darren's philosophy and process, and the role they play in his strategies.