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Fidelity Australian Equities Fund

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Highest possible ratings from professional research houses Morningstar and Zenith+
A diversified portfolio with a consistent rigorous investment approach
The same highly experienced portfolio manager since 2003 backed by a highly experienced team

Meet Paul Taylor

Portfolio Manager of the Fidelity Australian Equities Fund shares his investment philosophy and process.
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The Case for Australian Equities

Paul Taylor, Portfolio Manager of the Fidelity Australian Equities Fund shares his thoughts on why Australian equities are a good investment long-term.
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Fund facts

Investment Objectives

To achieve returns in excess of the S&P/ASX 200 Accumulation Index over the suggested minimum investment time period of five to seven years.

Unit prices (at 21/08/17)^^
30.0689 / 29.9489 Download History
Portfolio manager
Paul Taylor
Appointed to fund
30 June 2003
Joined Fidelity
1997
Location
Australia
Fund size (at 21/08/17)
A$5,377.31M
Benchmark
S&P/ASX 200 Accumulation Index
Distribution freq.
Quarterly
Management costs^
0.85% p.a.
Currency
Australian Dollar
Buy/sell spread
0.20%/0.20%
Inception date
30 June 2003
ARSN
103420088
APIR code
FID0008AU
mFund code
FIL08

Past performance net returns as at 31/07/17

Timeframe 1 mth
%
3 mth
%
6 mth
%
1 yr
%
3 yr
% pa
5 yr
% pa
7 yr
% pa
10 yr
% pa
Since inception
(30/06/03) % pa
Fund* -0.00 -3.30 3.49 2.77 5.49 11.96 9.45 5.81 12.06
Benchmark** -0.01 -2.59 3.97 7.33 5.11 10.88 8.27 3.83 9.28
Active return 0.01 -0.71 -0.48 -4.56 0.38 1.08 1.18 1.98 2.78

Growth and income net as at 31/07/2017

1 yr
%
3 yr
% pa
5 yr
% pa
7 yr
% pa
10 yr
% pa
Since inception
(30/06/03) % pa
Total return 2.77 5.49 11.96 9.45 5.81 12.06
Growth -0.08 2.36 8.53 5.98 2.54 7.87
Income 2.85 3.13 3.43 3.47 3.27 4.19

Distributions

Distribution Distribution (CPU)* Reinvestment price
30-Jun-17 31.68079 $30.0858

*CPU = cents per unit. The above cash CPU  excludes imputation credits and foreign income tax offsets which are non-cash components and are reported in the end of year tax statement.

Sector breakdown as at 31/07/17

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Top 10 holdings as at 31/07/2017

% total net assets
COMMONWEALTH BANK AUSTRALIA 11.8%
BHP BILLITON LTD 6.9%
AUSTRALIA & N ZEAL BKG GRP LTD 6.8%
SUNCORP GROUP LTD 6.4%
WESTPAC BANKING CORP 5.5%
RIO TINTO LTD 4.9%
SYDNEY AIRPORT 4.6%
CSL LTD 3.9%
DOMINOS PIZZA ENTERPRISES LTD 3.5%
SEEK LTD 3.4%

Top overweight positions as at 31/07/17

Fund % Index % Relative %
SUNCORP GROUP LTD 6.4 1.2 5.1
SYDNEY AIRPORT 4.6 1.0 3.6
DOMINOS PIZZA ENTERPRISES LTD 3.5 0.2 3.3
RIO TINTO LTD 4.9 1.8 3.0
SEEK LTD 3.4 0.4 3.0

Top underweight positions as at 31/07/17

Fund % Index % Relative %
NATIONAL AUSTRALIA BANK LTD 2.2 5.3 -3.2
WOOLWORTHS LTD 0.0 2.3 -2.3
TELSTRA CORP LTD 1.1 3.2 -2.1
WESTPAC BANKING CORP 5.5 7.2 -1.7
TRANSURBAN LTD 0.0 1.6 -1.6

Fund ratings+

Organisation Rating / Recommendation More Information
Morningstar Gold1 Visit Morningstar's website
Zenith Highly Recommended2 Visit Zenith's website

 

See ratings disclaimers


Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. *The returns shown have been calculated using the net asset value of the Fund from one period to the next. The returns include any re-invested distributions and are after fees and expenses. No allowance has been made for taxation or for any fees charged by operators of master trusts or wrap accounts through which the products are offered. For periods greater than one year returns have been annualised. Growth return is the unit price movement on exit to exit basis. Income is expressed as Total Return less growth component.** S&P / ASX 200 Accumulation.

This Fund is subject to the risk of stock market fluctuations. Investors accessing the Fund through a master trust or wrap account will also bear any fees charged by the operator of such master trust or wrap account. Any apparent discrepancies in the numbers are due to rounding.
^Management costs and buy/sell spread are current as at the date of publication of this website. These fees may be subject to change in the future.
^^These application and redemption prices are current as at the time of this communication, but are not the guaranteed prices you will receive should you apply for or redeem any units on or after the time of this communication, because the actual price may be calculated by reference to a different date.

# Morningstar quartiles calculated as at March 2016 for the Equity Australia Large Blend peer group.  Past performance is not a reliable indicator of future performance. 

+ Please refer to the Fund Ratings table for further information

º Fidelity Analyst Survey 2016

You should refer to respective research houses (and their disclaimers below) to obtain further information about the meaning of the rating and the rating scale. Ratings are only one factor to be taken into account when deciding whether to invest. Ratings are subject to change without notice and may not be regularly updated. Ratings are current as at date (s) stated below. Fidelity pays a fee to some research houses for rating our funds.

1. © 2016 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice or ‘class service’ have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement (Australian products) or Investment Statement (New Zealand products) before making any decision to invest. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782 ("ASXO"). Rating assigned October 2015.

2. The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned June 2016) referred to in this document is limited to “General Advice” (as defined by the Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessment’s and at http://www.zenithpartners.com.au/RegulatoryGuidelines

This website is intended to provide general information only and has been prepared without taking into account your objectives, financial situation or needs. You should consider these matters before acting on the information and consider the relevant Product Disclosure Statement for any product named on this website before making an investment decision.

© 2017 FIL Responsible Entity (Australia) Limited ABN 33 148 059 009, AFSL No. 409340.
Fidelity, Fidelity International and the Fidelity International logo and F symbol are trademarks of FIL limited.

This document is issued by FIL Responsible Entity (Australia) Limited ABN 33 148 059 009, AFSL No. 409340 ("Fidelity Australia"). Fidelity Australia is a member of the FIL Limited group of companies commonly known as Fidelity International. Prior to making an investment decision retail investors should seek advice from their financial adviser. Please remember past performance is not a guide to the future. Investors should also obtain and consider the Product Disclosure Statements ("PDS") for the fund mentioned in this document. The PDS is available on www.fidelity.com.au or can be obtained by contacting Fidelity Australia on 1800 119 270. This document has been prepared without taking into account your objectives, financial situation or needs. You should consider such matters before acting on the information contained in this document. This document may include general commentary on market activity, industry or sector trends or other broad based economic or political conditions which should not be construed as investment advice. Information stated herein about specific securities is subject to change. Any reference to specific securities should not be construed as a recommendation to buy, sell or hold these securities. While the information contained in this document has been prepared with reasonable care no responsibility or liability is accepted for any errors or omissions or misstatements however caused. The document may not be reproduced or transmitted without prior written permission of Fidelity Australia. The issuer of Fidelity funds is FIL Responsible Entity (Australia) Limited ABN 33 148 059 009. References to ($) are in Australian dollars unless stated otherwise. © 2017 FIL Responsible Entity (Australia) Limited. Fidelity, Fidelity International, and the Fidelity International logo and F symbol are trademarks of FIL Limited.