Fidelity Investments has reopened its Value Strategies Fund to investors. The portfolio had been closed to new shareholders since 1986.

"Several of our value and equity-income funds focus mainly on large-cap stocks," said Sandjiv Mirchandani, executive vice president of Fidelity Personal Investments, in a statement. "This fund has historically sought opportunities mostly in the mid- and small-cap areas of the market. It is currently positioned as the most aggressive of our value offerings."

Earlier this month, the Boston-based firm launched the Fidelity Advisor Value Fund, a new portfolio that focuses primarily on small- and mid-cap stocks and that brought its number of value portfolios to five.  

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