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 fund of some of Australia's most promising companies
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 July 2012 compared with $10,000 invested in the S&P/ ASX 200 Accumulation Index.
Chart as at: 30 September 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 30 September 2025
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
Since inception (31/07/12) % pa |
|---|---|---|---|---|---|---|
| Fund | 3.19 | 12.45 | 10.10 | 7.55 | 9.34 | 10.32 |
| Benchmark | 10.56 | 15.17 | 12.98 | 9.26 | 10.11 | 10.16 |
| Active return | -7.37 | -2.72 | -2.88 | -1.71 | -0.77 | 0.16 |
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 30 September 2025
| 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
Since inception (31/07/12) % pa |
|
|---|---|---|---|---|---|---|
| Total return | 3.19 | 12.45 | 10.10 | 7.55 | 9.34 | 10.32 |
| Growth | -10.21 | 1.35 | 2.35 | 1.38 | 4.15 | 4.83 |
| Income | 13.40 | 11.10 | 7.76 | 6.17 | 5.19 | 5.49 |
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-Sep-2025 | 9.8905 | $18.5083 | $18.4713 |
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 30 September 2025
As at 30 September 2025
| % total net assets | |
|---|---|
| COMMONWEALTH BANK AUSTRALIA | 11.3% |
| NATIONAL AUSTRALIA BANK LTD | 9.9% |
| BHP GROUP LTD | 9.1% |
| MACQUARIE GROUP LTD | 7.5% |
| GOODMAN GROUP | 5.8% |
| ARISTOCRAT LEISURE LTD | 5.7% |
| QBE INS GROUP LTD | 5.2% |
| NORTHERN STAR RESOURCES LTD | 4.5% |
| LYNAS RARE EARTHS LTD | 3.9% |
| LIFE360 INC | 3.2% |
As at 30 September 2025
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| NATIONAL AUSTRALIA BANK LTD | 9.9 | 5.0 | 4.9 |
| MACQUARIE GROUP LTD | 7.5 | 2.9 | 4.6 |
| ARISTOCRAT LEISURE LTD | 5.7 | 1.6 | 4.1 |
| QBE INS GROUP LTD | 5.2 | 1.2 | 4.0 |
| LYNAS RARE EARTHS LTD | 3.9 | 0.6 | 3.4 |
As at 30 September 2025
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| WESTPAC BANKING CORP | 0.0 | 5.0 | -5.0 |
| WESFARMERS LTD | 0.0 | 3.9 | -3.9 |
| ANZ GROUP HOLDINGS LTD | 0.0 | 3.7 | -3.7 |
| CSL LTD | 0.0 | 3.6 | -3.6 |
| TELSTRA GROUP LTD | 0.0 | 2.0 | -2.0 |
| Organisation | Rating / Recommendation |
|---|---|
| Lonsec |
Investment Grade4
The Lonsec report is only available to financial advisers, please contact us for a copy |
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.
