A diversified and concentrated portfolio of 20-40 Australian high-quality stocks
Uses a bottom-up research approach to invest in companies with a sustainable competitive advantage, strong pricing market power, supportive industry structure, and strong management quality.
Strong risk management is at the core of our investment approach
A 'best ideas' concentrated portfolio, with a strong focus on risk management
A diversified Active ETF of some of Australia's most promising companies
One trade gives you access to our 20+ years' expertise investing in the Australian market
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 High Conviction Fund in May 2024 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. The Fund is subject to the risk of stock market fluctuations. Total returns (net) 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. 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. Benchmark: S&P ASX 200 Accumulation Index.
Net returns as at 31 July 2025
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (29/05/24) % pa |
|---|---|---|---|---|
| Fund | 4.52 | - | - | 9.80 |
| Benchmark | 11.81 | - | - | 15.35 |
| Active return | -7.29 | - | - | -5.55 |
Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. The Fund is subject to the risk of stock market fluctuations. Total returns (net) 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. 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. Benchmark: S&P ASX 200 Accumulation Index.
Net as at 31 July 2025
| 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (29/05/24) % pa |
|
|---|---|---|---|---|
| Total return | 4.52 | - | - | 9.80 |
| Growth | -9.18 | - | - | -11.88 |
| Income | 13.71 | - | - | 21.68 |
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. The Fund is subject to the risk of stock market fluctuations. Total returns (net) 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. 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. Benchmark: S&P ASX 200 Accumulation Index.
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 30-Jun-2025 | 112.0885 | $8.4686 |
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 | 10.7% |
| NATIONAL AUSTRALIA BANK LTD | 9.2% |
| BHP GROUP LTD | 7.4% |
| MACQUARIE GROUP LTD | 6.6% |
| ARISTOCRAT LEISURE LTD | 6.3% |
| QBE INS GROUP LTD | 5.7% |
| GOODMAN GROUP | 5.5% |
| ORICA LTD | 4.5% |
| VENTIA SERVICES GROUP PTY LTD | 3.4% |
| WISETECH GLOBAL LTD | 3.2% |
As at 31 July 2025
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| NATIONAL AUSTRALIA BANK LTD | 9.2 | 4.5 | 4.7 |
| ARISTOCRAT LEISURE LTD | 6.3 | 1.7 | 4.6 |
| QBE INS GROUP LTD | 5.7 | 1.3 | 4.4 |
| ORICA LTD | 4.5 | 0.4 | 4.1 |
| MACQUARIE GROUP LTD | 6.6 | 2.9 | 3.7 |
As at 31 July 2025
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| WESTPAC BANKING CORP | 0.0 | 4.4 | -4.4 |
| WESFARMERS LTD | 0.0 | 3.7 | -3.7 |
| ANZ GROUP HOLDINGS LTD | 0.0 | 3.5 | -3.5 |
| CSL LTD | 1.7 | 5.0 | -3.3 |
| TELSTRA GROUP LTD | 0.0 | 2.2 | -2.2 |
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 An intraday optimised portfolio value (IOPV) for each fund will be published throughout the ASX trading day. The IOPVs are calculated by ICE Data Indices, LLC based on the latest price of each security, amongst other factors. In equity constituent market value calculations, the last reported trade price from the composite feed (US) or primary listing exchange (non-US) is used for the latest price of each security, when those exchanges are open. When those exchanges are closed, the IOPV calculation can incorporate the Real-Time Fair Value Information Service from ICE Data Pricing & Reference Data, LLC which is a multi-factor model that calculates a real-time estimate of the price that would likely prevail in a liquid market for an equity security following the close of the local market. For more information on Fair Value Information Service methodology, please refer to: https://www.theice.com/market-data/pricing-and-evaluations/fair-value.
For IOPVs with fixed income securities, ICE Data Pricing & Reference Data, LLC’s Continuous Evaluated Pricing (CEP) service can be used to price such fixed income securities. As market data becomes available and passes internal system tolerances and parameters, CEP will update throughout the day. While updates to CEP occur more frequently during local market trading hours, CEP will update outside of normal trading hours based on market information that is available at that time. For constituents where CEP is not available, either the prior day’s evaluation or a client-provided price may be used in the IOPV calculation instead. For more information about Continuous Evaluated Pricing, please refer to: https://www.theice.com/market-data/pricing-and-evaluations/cep.
The iNAV calculations as shown (the “Data”) and provided by ICE Data Indices, LLC are updated during ASX trading hours. Powered by Factset. iNAV calculations are indicative and for reference purposes only.
The Fund is not sponsored, endorsed, sold or marketed by ICE Data Indices, LLC, its affiliates (“ICE Data”) or their respective Third Party Suppliers.
ICE DATA OR ITS THIRD PARTY SUPPLIERS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE IOPVS, ETF STATISTICS, FUND OR ANY FUND DATA INCLUDED THEREIN. IN NO EVENT SHALL ICE DATA HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, DIRECT, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
2 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
3Total returns (net) 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. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed.
