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 18/02/19) Buy 16.4404 / Sell 16.3748 Unit price history
Buy/sell spread 0.20%/0.20%
Management costs1 0.85% p.a Fee disclosure document
Fund size (at 18/02/19) A$245.60M
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

Net returns as at 31 January 2019

Timeframe Fund Benchmark Active return
1 yr % -1.78 1.37 -3.15
3 yr % pa 9.25 10.09 -0.84
5 yr % pa 9.24 7.10 2.14
Since inception (31/07/12) % pa 11.72 9.77 1.95
Timeframe 1 yr
%
3 yr
% pa
5 yr
% pa
Since inception
(31/07/12) % pa
Fund -1.78 9.25 9.24 11.72
Benchmark 1.37 10.09 7.10 9.77
Active return -3.15 -0.84 2.14 1.95

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.

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 2019

    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 2019

    Total return Growth Income
    1 yr % -1.78 -4 2.22
    3 yr % pa 9.25 6.67 2.58
    5 yr % pa 9.24 4.65 4.59
    Since inception (31/07/12) % pa 11.72 7.22 4.5
    1 yr
    %
    3 yr
    % pa
    5 yr
    % pa
    Since inception
    (31/07/12) % pa
    Total return -1.78 9.25 9.24 11.72
    Growth -4 6.67 4.65 7.22
    Income 2.22 2.58 4.59 4.5

    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 December 2018

    As at 31 December 2018

    % total net assets
    COMMONWEALTH BANK AUSTRALIA 10.5%
    CSL LTD 7.8%
    AUSTRALIA & N ZEAL BKG GRP LTD 5.3%
    BHP GROUP LTD 5.0%
    WESFARMERS LTD 4.3%
    WESTPAC BANKING CORP 3.7%
    QBE INS GROUP LTD 3.7%
    GOODMAN GROUP 3.3%
    OIL SEARCH LIMITED 3.2%
    WOOLWORTHS GROUP LTD 3.1%

    As at 31 December 2018

    Fund % Benchmark % Relative %
    QBE INS GROUP LTD 3.7 0.9 2.8
    OIL SEARCH LIMITED 3.2 0.6 2.6
    LYNAS CORP LTD 2.6 0.1 2.5
    CSL LTD 7.8 5.6 2.2
    GOODMAN GROUP 3.3 1.1 2.1

    As at 31 December 2018

    Fund % Benchmark % Relative %
    TELSTRA CORP LTD 0.0 2.3 - 2.3
    NATIONAL AUSTRALIA BANK LTD 2.2 4.4 - 2.2
    WESTPAC BANKING CORP 3.7 5.7 - 2.0
    TRANSURBAN GROUP 0.0 2.0 - 2.0
    WOODSIDE PETROLEUM LTD 0.0 1.9 - 1.9
    Distribution Distribution (CPU) Reinvestment price
    31-Dec-18 9.894 $15.118

    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
    Lonsec
    Rated4
    The Lonsec report is only available to financial advisers,
    please contact us for a copy
    Zenith  Recommended5

    Related insights

    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 mid prices and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax or the buy/sell spread.  Returns of more than one year are annualised. The return of capital is not guaranteed.

    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.

    4The Lonsec Rating (assigned October 2018) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to "General Advice" (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Fidelity International product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria.

    5The Zenith Investment Partners (“Zenith”) ABN 60 322 047 314 rating (assigned June 2018) 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.

    Strong fund ratings from professional research houses.

     

    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

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    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.

    2Total returns (net) have been calculated using mid prices and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax or the buy/sell spread.  Returns of more than one year are annualised. The return of capital is not guaranteed.

    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.

    4The Lonsec Rating (assigned October 2018) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to "General Advice" (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Fidelity International product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria.

    5The Zenith Investment Partners (“Zenith”) ABN 60 322 047 314 rating (assigned June 2018) 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.