Fidelity Australian Equities Fund
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Investment objective

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.

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

About this fund
Unit prices (at 20/02/18) Buy 32.1528 / Sell 32.0244 Unit price history
Buy/sell spread 0.20%/0.20%
Management costs1 0.85% p.a.
Fund size (at 20/02/18) A$5,749.34M
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

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: 31 January 2018

    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 31 January 2018

    Timeframe Fund Benchmark Active return
    1 mth % -0.20 -0.45 0.25
    3 mth % 3.99 3.02 0.97
    6 mth % 9.16 7.89 1.27
    1 yr % 12.97 12.18 0.79
    3 yr % pa 7.35 7.31 0.04
    5 yr % pa 10.25 9.07 1.18
    7 yr % pa 9.80 8.23 1.57
    10 yr % pa 7.26 5.29 1.97
    Since inception (30/06/03) % pa 12.30 9.52 2.78
    Timeframe 1 yr
    %
    3 yr
    % pa
    5 yr
    % pa
    7 yr
    % pa
    10 yr
    % pa
    Since inception
    (30/06/03) % pa
    Fund 12.97 7.35 10.25 9.80 7.26 12.30
    Benchmark 12.18 7.31 9.07 8.23 5.29 9.52
    Active return 0.79 0.04 1.18 1.57 1.97 2.78

    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 31 January 2018

    Total return Growth Income
    1 yr % 12.97 9.79 3.18
    3 yr % pa 7.35 4.19 3.16
    5 yr % pa 10.25 6.94 3.31
    7 yr % pa 9.80 6.32 3.48
    10 yr % pa 7.26 3.89 3.37
    Since inception (30/06/03) % pa 12.30 8.13 4.17
    1 yr
    %
    3 yr
    % pa
    5 yr
    % pa
    7 yr
    % pa
    10 yr
    % pa
    Since inception
    (30/06/03) % pa
    Total return 12.97 7.35 10.25 9.80 7.26 12.30
    Growth 9.79 4.19 6.94 6.32 3.89 8.13
    Income 3.18 3.16 3.31 3.48 3.37 4.17

    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 January 2018

    As at 31 January 2018

    % total net assets
    COMMONWEALTH BANK AUSTRALIA 8.6%
    BHP BILLITON LTD 6.7%
    AUSTRALIA & N ZEAL BKG GRP LTD 6.6%
    SUNCORP GROUP LTD 5.9%
    WESTPAC BANKING CORP 5.7%
    RIO TINTO LTD 5.0%
    CSL LTD 4.2%
    SYDNEY AIRPORT 3.6%
    WESFARMERS LTD 3.6%
    MACQUARIE GROUP LTD 3.6%

    As at 31 January 2018

    Fund % Benchmark % Relative %
    SUNCORP GROUP LTD 5.9 1.1 4.8
    SEEK LTD 3.6 0.4 3.1
    RIO TINTO LTD 5.0 2.0 3.1
    DOMINOS PIZZA ENTERPRISES LTD 2.9 0.2 2.7
    SYDNEY AIRPORT 3.6 1.0 2.7

    As at 31 January 2018

    Fund % Benchmark % Relative %
    WOOLWORTHS GROUP LTD 0.0 2.2 - 2.2
    NATIONAL AUSTRALIA BANK LTD 2.9 4.9 - 2.0
    WOODSIDE PETROLEUM LTD 0.0 1.7 - 1.7
    TRANSURBAN LTD 0.0 1.7 - 1.7
    SCENTRE GROUP LTD 0.0 1.4 - 1.4
    Distribution Distribution (CPU) Reinvestment price
    31-Dec-17 27.14139 $32.4652

    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
    Morningstar Gold4
    Zenith Highly Recommended5

    Related insights

    Investing for the long term - insulating against fads and fashions
    Paul Taylor

    Investing for the long term - insulating against fads and fashions

    Aconex has experienced a rollercoaster ride on the ASX; from depression to excitement to depression and back again. But at the end of the day the stock has gone from an IPO price of $1.90 to a takeover bid of $7.80 in just over three years - a return of 410%.

    2018 outlook: Australian equities
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    2018 outlook: Australian equities

    As we start to think about summer holidays and Christmas shopping we can look back on another strong year for equity markets

    From the desk of Paul Taylor
    Paul Taylor

    From the desk of Paul Taylor

    Paul talks about the challenges the Fund has faced over the past 12 months, managing a growing portfolio, his views on Domino's, the recent reporting season results as well as the outlook for the Australian market ahead.

    How far will we go to gain conviction?
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    How far will we go to gain conviction?

    During the Global Financial Crisis, markets were concerned that Sydney Airport was over-leveraged. How did Fidelity determine if we should hold this stock through this period of dislocation?

    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.

    2The 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. 

    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.

    4© 2017 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 2016.

    5The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned June 2017) 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

    6Ratings and awards are only one factor to be taken into account when deciding whether to invest. 

    You should click here for information published by Money magazine about the award and how the winner was selected. You should also refer to relevant research houses to obtain further information about the meaning of the rating and the rating scale on which the award may be based. 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. Fidelity pays a fee to some research houses for rating our funds.

    The Professional Planner | Zenith Fund Awards are determined using proprietary methodologies. Fund Awards were issued October 9, 2015 and are solely statements of opinion and do not represent recommendations to purchase, hold, or sell any securities or make any other investment decisions. Ratings are subject to change. The use of the Fund Awards logo and artwork is limited to organisations which consent to these Terms of Use. Use of the logo implies this consent has been given. Any requests for variation of these terms of use must be made to: Conexus Financial, Level 1, 1 Castlereagh Street SYDNEY NSW 2000 Conexus Financial may terminate the licence to use the Professional Planner Zenith Fund Awards logo at any time upon written notice.

    Standard & Poor’s Information Services (Australia) Pty Ltd (ABN: 17 096 167 556, Australian Financial Services Licence Number: 258896) (“Standard & Poor’s) Fund Awards are determined using proprietary methodologies. Fund Awards and ratings are solely statements of opinion and do not represent recommendations to purchase, hold, or sell any securities or make any other investment decisions. Ratings are subject to change. For the latest ratings information please visit www.standardandpoors.com.au.

    Why this fund

    Highest possible ratings from professional research houses Morningstar and Zenith.4,5

    A diversified portfolio with a consistent rigorous investment approach.

    The same highly experienced portfolio manager since 2003 backed by one of the largest analyst teams in Australia.

    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

    Investing for the long term - insulating against fads and fashions
    Paul Taylor

    Investing for the long term - insulating against fads and fashions

    Aconex has experienced a rollercoaster ride on the ASX; from depression to excitement to depression and back again. But at the end of the day the stock has gone from an IPO price of $1.90 to a takeover bid of $7.80 in just over three years - a return of 410%.

    2018 outlook: Australian equities
    Paul Taylor

    2018 outlook: Australian equities

    As we start to think about summer holidays and Christmas shopping we can look back on another strong year for equity markets

    From the desk of Paul Taylor
    Paul Taylor

    From the desk of Paul Taylor

    Paul talks about the challenges the Fund has faced over the past 12 months, managing a growing portfolio, his views on Domino's, the recent reporting season results as well as the outlook for the Australian market ahead.

    How far will we go to gain conviction?
    Paul Taylor

    How far will we go to gain conviction?

    During the Global Financial Crisis, markets were concerned that Sydney Airport was over-leveraged. How did Fidelity determine if we should hold this stock through this period of dislocation?

    From the desk of Paul Taylor

    Hear Paul’s insights into Australian markets, companies and his fund by subscribing to his regular update.

    Subscribe 

    Paul Taylor
     

    Awards6

    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.

    2The 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. 

    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.

    4© 2017 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 2016.

    5The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned June 2017) 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

    6Ratings and awards are only one factor to be taken into account when deciding whether to invest. 

    You should click here for information published by Money magazine about the award and how the winner was selected. You should also refer to relevant research houses to obtain further information about the meaning of the rating and the rating scale on which the award may be based. 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. Fidelity pays a fee to some research houses for rating our funds.

    The Professional Planner | Zenith Fund Awards are determined using proprietary methodologies. Fund Awards were issued October 9, 2015 and are solely statements of opinion and do not represent recommendations to purchase, hold, or sell any securities or make any other investment decisions. Ratings are subject to change. The use of the Fund Awards logo and artwork is limited to organisations which consent to these Terms of Use. Use of the logo implies this consent has been given. Any requests for variation of these terms of use must be made to: Conexus Financial, Level 1, 1 Castlereagh Street SYDNEY NSW 2000 Conexus Financial may terminate the licence to use the Professional Planner Zenith Fund Awards logo at any time upon written notice.

    Standard & Poor’s Information Services (Australia) Pty Ltd (ABN: 17 096 167 556, Australian Financial Services Licence Number: 258896) (“Standard & Poor’s) Fund Awards are determined using proprietary methodologies. Fund Awards and ratings are solely statements of opinion and do not represent recommendations to purchase, hold, or sell any securities or make any other investment decisions. Ratings are subject to change. For the latest ratings information please visit www.standardandpoors.com.au.