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: 31 May 2025
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 May 2025
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
Since inception (31/07/12) % pa |
|---|---|---|---|---|---|---|
| Fund | 6.59 | 6.23 | 9.30 | 7.11 | 7.82 | 10.05 |
| Benchmark | 13.36 | 9.62 | 12.11 | 9.06 | 8.12 | 9.92 |
| Active return | -6.77 | -3.39 | -2.81 | -1.95 | -0.30 | 0.13 |
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 May 2025
| 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
Since inception (31/07/12) % pa |
|
|---|---|---|---|---|---|---|
| Total return | 6.59 | 6.23 | 9.30 | 7.11 | 7.82 | 10.05 |
| Growth | -5.74 | -1.21 | 3.94 | 2.61 | 3.41 | 5.46 |
| Income | 12.33 | 7.44 | 5.36 | 4.50 | 4.41 | 4.59 |
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.
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 31-Mar-25 | 4.9946 | $18.3760 |
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 May 2025
As at 31 May 2025
| % total net assets | |
|---|---|
| NATIONAL AUSTRALIA BANK LTD | 10.9% |
| COMMONWEALTH BANK AUSTRALIA | 8.8% |
| BHP GROUP LTD | 8.3% |
| MACQUARIE GROUP LTD | 6.2% |
| QBE INS GROUP LTD | 5.5% |
| ARISTOCRAT LEISURE LTD | 5.3% |
| GOODMAN GROUP | 4.9% |
| ORICA LTD | 4.4% |
| NORTHERN STAR RESOURCES LTD | 3.4% |
| XERO LTD | 3.0% |
As at 31 May 2025
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| NATIONAL AUSTRALIA BANK LTD | 10.9 | 4.6 | 6.3 |
| QBE INS GROUP LTD | 5.5 | 1.4 | 4.1 |
| ORICA LTD | 4.4 | 0.4 | 4.1 |
| ARISTOCRAT LEISURE LTD | 5.3 | 1.5 | 3.8 |
| MACQUARIE GROUP LTD | 6.2 | 3.0 | 3.2 |
As at 31 May 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 | 3.4 | -3.4 |
| CSL LTD | 1.6 | 4.7 | -3.2 |
| COMMONWEALTH BANK AUSTRALIA | 8.8 | 11.6 | -2.8 |
| Organisation | Rating / Recommendation |
|---|---|
| Zenith | Approved4 |
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.
