Fidelity Australian Equities Fund
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Fidelity Australian Equities Fund

Investment objective

To achieve returns in excess of the S&P/ASX 200 Accumulation Index over the medium to long term.

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.

Key facts

Fund at a glance
Unit prices (at 18/03/24) Buy 36.7596 / Sell 36.6494 Unit price history
Buy/sell spread 0.15%/0.15%
Management costs1 0.85% p.a.
Fund size (at 18/03/24) A$5,213.61M
Inception date 30 June 2003
Distribution frequency Quarterly
Currency Australian dollar
Benchmark S&P/ASX 200 Accumulation Index
About the manager
Portfolio manager Paul Taylor
Appointed to fund 30 June 2003
Location Australia
Joined Fidelity 1997
Unique identifiers
APIR code FID0008AU
ARSN code 103420088
mFund code FIL08

Latest fund update

Paul Taylor, recently sat down with Lukasz de Pourbaix for an in-depth discussion around performance and fund positioning. Watch as they cover:

  • Factors impacting performance
  • A deeper dive into IGO, Domino's Pizza, and Suncorp
  • Outlook and positioning
     

Download perspective

Fund performance2

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.

    Fidelity Australian Equities Fund
    0
    S&P/ASX 200 Accumulation Index
    0

    Chart as at: 29 February 2024

    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 returns as at 29 February 2024

    Timeframe Fund Benchmark Active return
    1 yr % 5.54 10.64 -5.10
    3 yr % pa 7.79 9.32 -1.53
    5 yr % pa 8.25 8.61 -0.36
    7 yr % pa 8.33 8.60 -0.27
    10 yr % pa 7.83 7.95 -0.12
    15 yr % pa 10.87 10.28 0.59
    20 yr % pa 10.58 8.77 1.81
    Since inception (30/06/03) % pa 10.95 9.16 1.79
    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 5.54 7.79 8.25 8.33 7.83 10.87 10.58 10.95
    Benchmark 10.64 9.32 8.61 8.60 7.95 10.28 8.77 9.16
    Active return -5.10 -1.53 -0.36 -0.27 -0.12 0.59 1.81 1.79

    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 29 February 2024

    Total return Growth Income
    1 yr % 5.54 2.39 3.15
    3 yr % pa 7.79 0.53 7.26
    5 yr % pa 8.25 1.82 6.43
    7 yr % pa 8.33 2.82 5.51
    10 yr % pa 7.83 3.01 4.82
    15 yr % pa 10.87 6.38 4.49
    20 yr % pa 10.58 5.78 4.8
    Since inception (30/06/03) % pa 10.95 6.29 4.66
    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 5.54 7.79 8.25 8.33 7.83 10.87 10.58 10.95
    Growth 2.39 0.53 1.82 2.82 3.01 6.38 5.78 6.29
    Income 3.15 7.26 6.43 5.51 4.82 4.49 4.8 4.66

    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 29 February 2024

    As at 29 February 2024

    % total net assets
    COMMONWEALTH BANK AUSTRALIA 11.0%
    BHP GROUP LTD 9.9%
    CSL LTD 7.0%
    SUNCORP GROUP LTD 5.6%
    MACQUARIE GROUP LTD 5.5%
    COLES GROUP LTD 5.3%
    GOODMAN GROUP 4.8%
    RAMSAY HEALTH CARE LTD 4.3%
    SEEK LTD 4.3%
    RIO TINTO LTD 3.8%

    As at 29 February 2024

    Fund % Benchmark % Relative %
    SUNCORP GROUP LTD 5.6 0.8 4.7
    COLES GROUP LTD 5.3 1.0 4.3
    SEEK LTD 4.3 0.4 3.8
    RAMSAY HEALTH CARE LTD 4.3 0.4 3.8
    IGO LTD 3.0 0.2 2.8

    As at 29 February 2024

    Fund % Benchmark % Relative %
    NATIONAL AUSTRALIA BANK LTD 0.0 4.6 -4.6
    WESFARMERS LTD 0.0 3.3 -3.3
    FORTESCUE LTD 0.0 1.9 -1.9
    TRANSURBAN GROUP 0.0 1.8 -1.8
    WOOLWORTHS GROUP LTD 0.2 1.7 -1.5
    Distribution Distribution (CPU) Reinvestment price
    29-Dec-23 49.777051 $36.1886

    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 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

    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. 

    3You 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.

    4The Lonsec Rating (assigned September 2023) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to "General Advice" (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Fidelity International product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria.

    5© 2023 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 September 2023.

    6The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned June 2023) 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

    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.

    More insights

    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. 

    3You 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.

    4The Lonsec Rating (assigned September 2023) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to "General Advice" (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Fidelity International product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria.

    5© 2023 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 September 2023.

    6The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned June 2023) 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