Fidelity Australian Opportunities 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 diversified selection of 40- 70 Australian companies with the flexibility to take meaningful positions in the mid-small cap part of the market.

Uses a bottom-up stock selection process that seeks companies with superior management, strong free cash flow, a competitive edge and low gearing.

Designed to be a core holding.

Key facts

About this fund
Unit prices (at 21/02/18) Buy 16.1300 / Sell 16.0656 Unit price history
Buy/sell spread 0.20%/0.20%
Management costs1 0.85% p.a
Fund size (at 21/02/18) A$104.92M
Inception date 31 July 2012
Distribution frequency Quarterly
Currency Australian dollar
Benchmark S&P/ASX 200 Accumulation Index
About the manager
Portfolio manager Kate Howitt
Appointed to fund 31 July 2012
Location Australia
Joined Fidelity 2004
Unique identifiers
APIR code FID0021AU
ARSN code 159055722
mFund code FIL21

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 Opportunities Fund in July 2012 compared with $10,000 invested in the S&P/ ASX 200 Accumulation Index.

    Fidelity Australian Opportunities 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 % -0.72 -0.45 -0.27
    3 mth % 3.37 3.02 0.35
    6 mth % 12.11 7.89 4.22
    1 yr % 18.10 12.18 5.92
    3 yr % pa 11.26 7.31 3.95
    5 yr % pa 12.32 9.07 3.25
    Since inception (31/07/12) % pa 14.36 11.37 2.99
    Timeframe 1 yr
    %
    3 yr
    % pa
    5 yr
    % pa
    Since inception
    (31/07/12) % pa
    Fund 18.10 11.26 12.32 14.36
    Benchmark 12.18 7.31 9.07 11.37
    Active return 5.92 3.95 3.25 2.99

    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 % 18.10 15.92 2.18
    3 yr % pa 11.26 6.98 4.28
    5 yr % pa 12.32 7.22 5.10
    Since inception (31/07/12) % pa 14.36 9.40 4.96
    1 yr
    %
    3 yr
    % pa
    5 yr
    % pa
    Since inception
    (31/07/12) % pa
    Total return 18.10 11.26 12.32 14.36
    Growth 15.92 6.98 7.22 9.40
    Income 2.18 4.28 5.10 4.96

    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 10.5%
    AUSTRALIA & N ZEAL BKG GRP LTD 6.1%
    CSL LTD 5.9%
    WESTPAC BANKING CORP 4.9%
    WESFARMERS LTD 4.2%
    RIO TINTO LTD 4.1%
    BHP BILLITON LTD 3.8%
    OIL SEARCH LIMITED 3.0%
    NATIONAL AUSTRALIA BANK LTD 2.8%
    QBE INS GROUP LTD 2.8%

    As at 31 January 2018

    Fund % Benchmark % Relative %
    OIL SEARCH LIMITED 3.0 0.6 2.4
    RIO TINTO LTD 4.1 2.0 2.2
    BLUE SKY ALTERNATIVE INVST LTD 2.1 0.0 2.1
    STAR ENTERTAINMENT GRP LTD/THE 2.3 0.3 2.0
    COMMONWEALTH BANK AUSTRALIA 10.5 8.6 1.9

    As at 31 January 2018

    Fund % Benchmark % Relative %
    BHP BILLITON LTD 3.8 6.0 - 2.2
    WOOLWORTHS GROUP LTD 0.0 2.2 - 2.2
    NATIONAL AUSTRALIA BANK LTD 2.8 4.9 - 2.1
    WOODSIDE PETROLEUM LTD 0.0 1.7 - 1.7
    WESTPAC BANKING CORP 4.9 6.5 - 1.7
    Distribution Distribution (CPU) Reinvestment price
    31-Dec-17 10.011951 $16.5086

    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 Silver4
    Zenith  Recommended5

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    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 November 2017.

    5The Zenith Investment Partners (“Zenith”) ABN 60 322 047 314 rating (assigned June 2017) referred to in this document is limited to “General Advice” (as defined by section 766B of Corporations Act 2001) and based solely on the assessment of the investment merits of the financial product on this basis. It is not a specific recommendation to purchase, sell or hold the relevant product(s), and Zenith advises that individual investors should seek their own independent financial advice before investing in this product. The rating is subject to change without notice and Zenith has no obligation to update this document following publication. Zenith usually receives a fee for rating the fund manager and product against accepted criteria considered comprehensive and objective.

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

    Why this fund

    Access to a diversified portfolio with the flexibility to take meaningful positions in the mid-small cap part of the market.

    A consistent top quartile performer over 1, 3 and 5 years and is highly rated3/4.

    Source: Morningstar Direct as at 31 December 2017

    Backed by a highly experienced Australian team and a global knowledge pool of over 400 Fidelity investment professionals.

    Meet Kate Howitt

    Portfolio Manager of the Fidelity Australian Opportunities Fund describes her fascination with ‘what makes a company great’ and how she combines this with her desire to provide great outcomes to investors.

    Related insights

    From the desk of Kate Howitt
    Kate Howitt

    From the desk of Kate Howitt

    Kate talks a2, WiseTech and investor sentiment in her reporting season wrap up. 
     
    Our investment experts' outlook

    Our investment experts' outlook

    How are Australian, Global and Asian equities positioned for the rest of 2017? 

    Five minutes with Kate Howitt

    Five minutes with Kate Howitt

    What makes Kate Howitt tick? Meet our rising star and what made her want to be a portfolio manager. 

    Get Fidelity insights

    Fidelity Insights is a free, monthly e-newsletter that brings you valuable and distilled investment insights, opinion and education.

    Subscribe 

     

    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 November 2017.

    5The Zenith Investment Partners (“Zenith”) ABN 60 322 047 314 rating (assigned June 2017) referred to in this document is limited to “General Advice” (as defined by section 766B of Corporations Act 2001) and based solely on the assessment of the investment merits of the financial product on this basis. It is not a specific recommendation to purchase, sell or hold the relevant product(s), and Zenith advises that individual investors should seek their own independent financial advice before investing in this product. The rating is subject to change without notice and Zenith has no obligation to update this document following publication. Zenith usually receives a fee for rating the fund manager and product against accepted criteria considered comprehensive and objective.

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