Investment objective
To achieve returns in excess of the S&P/ASX 200 Accumulation Index over the medium to long term.
Key facts
Fund performance2
Net returns as at 30 June 2022
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | -6.58 | -6.47 | -0.11 |
| 3 yr % pa | 4.87 | 3.34 | 1.53 |
| 5 yr % pa | 7.72 | 6.83 | 0.89 |
| 7 yr % pa | 7.41 | 6.91 | 0.50 |
| 10 yr % pa | 10.27 | 9.29 | 0.98 |
| 15 yr % pa | 6.32 | 4.67 | 1.65 |
| Since inception (30/06/03) % pa | 10.95 | 8.68 | 2.27 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
15 yr % pa |
Since inception (30/06/03) % pa |
|---|---|---|---|---|---|---|---|
| Fund | -6.58 | 4.87 | 7.72 | 7.41 | 10.27 | 6.32 | 10.95 |
| Benchmark | -6.47 | 3.34 | 6.83 | 6.91 | 9.29 | 4.67 | 8.68 |
| Active return | -0.11 | 1.53 | 0.89 | 0.50 | 0.98 | 1.65 | 2.27 |
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. Benchmark: S&P ASX 200 Accumulation Index.
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: 30 June 2022
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. Benchmark: S&P ASX 200 Accumulation Index.
Net as at 30 June 2022
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | -6.58 | -12.05 | 5.47 |
| 3 yr % pa | 4.87 | -0.29 | 5.16 |
| 5 yr % pa | 7.72 | 3.22 | 4.5 |
| 7 yr % pa | 7.41 | 3.28 | 4.13 |
| 10 yr % pa | 10.27 | 6.21 | 4.06 |
| 15 yr % pa | 6.32 | 2.65 | 3.67 |
| Since inception (30/06/03) % pa | 10.95 | 6.71 | 4.24 |
| 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
15 yr % pa |
Since inception (30/06/03) % pa |
|
|---|---|---|---|---|---|---|---|
| Total return | -6.58 | 4.87 | 7.72 | 7.41 | 10.27 | 6.32 | 10.95 |
| Growth | -12.05 | -0.29 | 3.22 | 3.28 | 6.21 | 2.65 | 6.71 |
| Income | 5.47 | 5.16 | 4.5 | 4.13 | 4.06 | 3.67 | 4.24 |
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. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. Benchmark: S&P ASX 200 Accumulation Index.
Sectors, holdings and distributions
As at 31 May 2022
As at 31 May 2022
| % total net assets | |
|---|---|
| COMMONWEALTH BANK AUSTRALIA | 11.1% |
| BHP GROUP LTD | 10.8% |
| CSL LTD | 6.7% |
| MACQUARIE GROUP LTD | 5.1% |
| IGO LTD | 4.7% |
| TELSTRA CORP LTD | 4.3% |
| COLES GROUP LTD | 4.2% |
| SUNCORP GROUP LTD | 4.2% |
| RAMSAY HEALTH CARE LTD | 4.0% |
| WESTPAC BANKING CORP | 3.6% |
As at 31 May 2022
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| IGO LTD | 4.7 | 0.4 | 4.3 |
| SUNCORP GROUP LTD | 4.2 | 0.7 | 3.5 |
| RAMSAY HEALTH CARE LTD | 4.0 | 0.7 | 3.3 |
| COLES GROUP LTD | 4.2 | 1.1 | 3.1 |
| COMMONWEALTH BANK AUSTRALIA | 11.1 | 8.4 | 2.7 |
As at 31 May 2022
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| NATIONAL AUSTRALIA BANK LTD | 0.0 | 4.8 | -4.8 |
| WESFARMERS LTD | 0.0 | 2.5 | -2.5 |
| TRANSURBAN GROUP | 0.0 | 2.1 | -2.1 |
| FORTESCUE METALS GROUP LTD | 0.0 | 1.6 | -1.6 |
| WOODSIDE ENERGY GROUP LTD | 1.3 | 2.6 | -1.3 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 48.1655 | $40.9024 |
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.
Fund downloads
- The case for Australian equities(340.06KB)
- Additional Information
- Fund flyer(408.19KB)
- Product Disclosure Statement(1.93MB)
- Application form(908.62KB)
- Fund fact sheet(78.57KB)
- Target Market Determination (TMD)
Fund ratings3
| Organisation | Rating / Recommendation |
|---|---|
| Lonsec |
Recommended4
The Lonsec report is only available to financial advisers, please contact us for a copy |
| Morningstar | Gold5 |
| Zenith | Recommended6 |
Morningstar 2020 Australia Fund Manager of the Year7
From the desk of Paul Taylor
Hear Paul’s insights into Australian markets, companies and his fund by subscribing to his regular update.
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Related insights
From the desk of Paul Taylor
It was a very pessimistic start to the year. Inflation, interest rates and market volatility were all on the rise, we were not yet out of COVID and were feeling the pinch from related supply chain issues. Read the latest From the desk of Paul Taylor to hear his views on entering a new phase in the economic environment.
The case for Australian equities
The Australian economy has proven more resilient than most during recent economic crises. It held up well in the face of the calamitous 1997 Asian financial crisis.1 It emerged relatively unscathed from the 2008–09 global financial crisis, thanks to its robust banking system and strong demand for resources from fast-growing countries like China
2022 Outlook: Australian equities
Inflationary pressures are expected to gain ground as the economy reopens. The Reserve Bank of Australia (RBA) has not suggested any policy tightening, but when it does the process will be gradual. While uncertainty is likely to prevail in the short term, we still expect to find structural, growth-led winners at attractive valuations during 2022.
A conversation with Paul Taylor
Industry heavyweight Paul Taylor speaks to the AFR about Australia's re-opening, areas where he's seeing opportunity and what he's looking to as we return to 'normal'.
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.
1Management 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.
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.
Why this fund
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.
Meet Paul Taylor
Portfolio Manager of the Fidelity Australian Equities Fund, Paul Taylor describes his love of markets, investments and his overarching goal to provide strong long-term returns to clients to help meet their investment goals.
Related insights
From the desk of Paul Taylor
It was a very pessimistic start to the year. Inflation, interest rates and market volatility were all on the rise, we were not yet out of COVID and were feeling the pinch from related supply chain issues. Read the latest From the desk of Paul Taylor to hear his views on entering a new phase in the economic environment.
The case for Australian equities
The Australian economy has proven more resilient than most during recent economic crises. It held up well in the face of the calamitous 1997 Asian financial crisis.1 It emerged relatively unscathed from the 2008–09 global financial crisis, thanks to its robust banking system and strong demand for resources from fast-growing countries like China
2022 Outlook: Australian equities
Inflationary pressures are expected to gain ground as the economy reopens. The Reserve Bank of Australia (RBA) has not suggested any policy tightening, but when it does the process will be gradual. While uncertainty is likely to prevail in the short term, we still expect to find structural, growth-led winners at attractive valuations during 2022.
A conversation with Paul Taylor
Industry heavyweight Paul Taylor speaks to the AFR about Australia's re-opening, areas where he's seeing opportunity and what he's looking to as we return to 'normal'.
Past insights from Paul
- Coronavirus strikes – part 4 (The recovery, phase 1)(187.44KB)
- Coronavirus strikes: Part 2 - April 2020(130.13KB)
- Coronavirus strikes: Part 1 - March 2020(129.13KB)
- Equity market volatility - November 2018(241.65KB)
- Low growth, high volatility - May 2019(161.95KB)
- Celebrating 15 years - August 2018(232.34KB)
- From the desk of Paul - February 2018(269.95KB)
- From the desk of Paul Taylor(361.71KB)
- From the desk of Paul - August 2017(95.32KB)
- From the desk of Paul - December 2017(246.07KB)
Awards6
We are thrilled to announce that the Fidelity Australian Equities Fund has been nominated for the 2022 Morningstar Fund Manager of the Year Domestic Equities - Large Cap Award1.
This nomination is a testament to the Fund's strong track record through different market cycles, and Portfolio Manager, Paul Taylor's consistent investment approach over the last 18 years.
For the fourth consecutive year, the Fidelity Australian Equities Fund has been awarded the Best Australian Share Fund in Money magazine’s Best of the Best Awards 2017. Money Magazine selected funds with the highest ratings from Morningstar, Zenith and Lonsec and with a minimum investment amount of $25, 000 or less for the category. Funds were then ranked according to their rating by each research house. Research house ratings were then combined with a further filtering process to determine the winner5.
For the third consecutive year, the Fidelity Australian Equities Fund has been awarded the Best Australian Share Fund in Money magazine’s Best of the Best Awards 2016. Money Magazine selected funds with the highest ratings from Morningstar, Zenith and Lonsec and with a minimum investment amount of $25, 000 or less for the category. Funds were then ranked according to their rating by each research house. Research house ratings were then combined with a further filtering process to determine the winner4.
The Fidelity Australian Equities Fund was a Finalist in the Australian Equities Large Caps sector at the Professional Planner/Zenith Investment Partners Fund Awards. The awards recognise excellence in the application of a fund manager's investment philosophy and process in the management of their respective capability. Zenith follows a robust and comprehensive process for selecting the nominees and assigning the winners of each fund category, and this process builds on Zenith's established fund manager review and rating process11.
For the second consecutive year, the Fidelity Australian Equities Fund has been awarded the Best Australian Share Fund in Money magazine’s Best of the Best Awards 2015. Money Magazine selected funds with the highest ratings from Morningstar, Zenith and Lonsec and with a minimum investment amount of $25, 000 or less for the category. Funds were then ranked according to their rating by each research house. Research house ratings were then combined with a further filtering process to determine the winner3.
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.
1Management 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.
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.