A core holding which invests in a diversified selection of around 30 - 50 Australian companies.
Uses a bottom-up stock-selection approach that focuses on undiscovered earnings potential, value and growth.
Conducts regular company, factory and competitor visits to assess business strength, earnings quality and long-term growth outlook.
The same highly experienced portfolio manager since 2003, backed by a highly experienced team.
A diversified portfolio with a consistent, rigorous investment approach.
Strong fund ratings from professional research houses.
See for yourself how the fund has performed since inception. The chart below represents the value now of $10,000 invested in the Fidelity Australian Equities Fund in June 2003 compared with $10,000 invested in the S&P/ ASX 200 Accumulation Index.
Chart as at: 31 July 2025
Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. 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. Returns of more than one year are annualised. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. Growth return is the unit price movement on exit to exit basis. Income is expressed as Total Return less growth component. Benchmark: S&P ASX 200 Accumulation Index.
Net returns as at 31 July 2025
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
15 yr % pa |
20 yr % pa |
Since inception (30/06/03) % pa |
|---|---|---|---|---|---|---|---|---|
| Fund | 10.28 | 9.23 | 10.72 | 8.01 | 7.95 | 9.18 | 9.23 | 10.91 |
| Benchmark | 11.81 | 12.33 | 12.26 | 8.93 | 8.65 | 8.99 | 7.95 | 9.41 |
| Active return | -1.53 | -3.10 | -1.54 | -0.92 | -0.70 | 0.19 | 1.28 | 1.50 |
Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. 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. Returns of more than one year are annualised. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. Growth return is the unit price movement on exit to exit basis. Income is expressed as Total Return less growth component. Benchmark: S&P ASX 200 Accumulation Index.
Net as at 31 July 2025
| 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
15 yr % pa |
20 yr % pa |
Since inception (30/06/03) % pa |
|
|---|---|---|---|---|---|---|---|---|
| Total return | 10.28 | 9.23 | 10.72 | 8.01 | 7.95 | 9.18 | 9.23 | 10.91 |
| Growth | -0.81 | 1.59 | 2.49 | 0.69 | 1.87 | 3.89 | 4.28 | 5.73 |
| Income | 11.09 | 7.64 | 8.23 | 7.32 | 6.08 | 5.29 | 4.94 | 5.18 |
Growth return is the unit price movement on exit to exit basis. Income is expressed as Total Return less growth component.
Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. 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. Returns of more than one year are annualised. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. Growth return is the unit price movement on exit to exit basis. Income is expressed as Total Return less growth component. Benchmark: S&P ASX 200 Accumulation Index.
| Distribution | Distribution (CPU) | Reinvestment price | Ex-distribution exit price |
|---|---|---|---|
| 30-Jun-2025 | 337.5595 | $35.0328 | $34.9803 |
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. If the Distribution CPU column is 0.0000 it means that nothing was distributed.
As at 31 July 2025
As at 31 July 2025
| % total net assets | |
|---|---|
| COMMONWEALTH BANK AUSTRALIA | 14.4% |
| BHP GROUP LTD | 8.9% |
| MACQUARIE GROUP LTD | 5.8% |
| GOODMAN GROUP | 5.4% |
| SUNCORP GROUP LTD | 5.3% |
| EVOLUTION MINING LTD | 4.9% |
| SEEK LTD | 4.5% |
| COLES GROUP LTD | 4.3% |
| WISETECH GLOBAL LTD | 3.9% |
| SANTOS LTD | 3.9% |
As at 31 July 2025
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| SUNCORP GROUP LTD | 5.3 | 0.9 | 4.5 |
| EVOLUTION MINING LTD | 4.9 | 0.5 | 4.4 |
| SEEK LTD | 4.5 | 0.3 | 4.2 |
| COLES GROUP LTD | 4.3 | 1.1 | 3.2 |
| COMMONWEALTH BANK AUSTRALIA | 14.4 | 11.3 | 3.1 |
As at 31 July 2025
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| NATIONAL AUSTRALIA BANK LTD | 0.0 | 4.5 | -4.5 |
| WESFARMERS LTD | 0.0 | 3.7 | -3.7 |
| TELSTRA GROUP LTD | 0.0 | 2.2 | -2.2 |
| WOODSIDE ENERGY GROUP LTD | 0.0 | 1.9 | -1.9 |
| CSL LTD | 3.1 | 5.0 | -1.8 |
| Organisation | Rating / Recommendation |
|---|---|
| Lonsec |
Recommended4
The Lonsec report is only available to financial advisers, please contact us for a copy |
| Morningstar | Gold5 |
| Zenith | Recommended6 |
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.
1 Management fees and costs are current as at the date shown above but may be subject to change in the future. Management fees and costs include management fees, estimated indirect costs, the net effect of GST and exclude abnormal expenses, transaction costs and any performance fee payable
2Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax. Returns of more than one year are annualised. The return of capital is not guaranteed.
