Fidelity FIRST Global Fund
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Investment objective

To outperform the MSCI All Country World Index NR over the suggested minimum investment time period of five to seven years.

A rigorous process designed to ensure that stock selection is the primary driver of risk and return.

A high conviction global equity fund that aims to deliver strong risk adjusted performance through an actively managed portfolio.

The fund’s portfolio managers choose from Fidelity’s highest rated investment ideas. 

Key facts

About this fund
Unit prices (at 15/08/18) Buy 11.0570 / Sell 10.9908 Unit price history
Buy/sell spread 0.30%/0.30%
Management costs1 1.15% p.a. Fee disclosure document
Fund size (at 15/08/18) A$2.93M
Inception date 26 April 2017
Distribution frequency Annually
Currency Australian dollar
Benchmark MSCI All Country World Index NR
About the manager
Portfolio manager Matt Jones & Hiten Savani
Appointed to fund 2017 / 2017
Location London
Joined Fidelity 2005 / 2010
Unique identifiers
APIR code FID4852AU
ARSN code 617169365
mFund code FIL52

Fund performance2

Net returns as at 31 July 2018

Timeframe Fund Benchmark Active return
1 yr % 17.59 19.17 -1.58
3 yr % pa - - -
5 yr % pa - - -
Since inception (26/04/17) % pa 11.85 13.59 -1.74
Timeframe 1 yr
%
3 yr
% pa
5 yr
% pa
Since inception
(26/04/17) % pa
Fund 17.59 - - 11.85
Benchmark 19.17 - - 13.59
Active return -1.58 - - -1.74

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: MSCI ACWI (All Country World Index) Index NR. NR: NR at the end of the benchmark name indicates the return is calculated including reinvesting net dividends. The dividend is reinvested after deduction of withholding tax, applying the withholding tax rate to non-resident individuals who do not benefit from double taxation treaties.

Net as at 31 July 2018

Total return Growth Income
1 yr % 17.59 12.22 5.37
3 yr % pa - - -
5 yr % pa - - -
Since inception (26/04/17) % pa 11.85 7.51 4.34
1 yr
%
3 yr
% pa
5 yr
% pa
Since inception
(26/04/17) % pa
Total return 17.59 - - 11.85
Growth 12.22 - - 7.51
Income 5.37 - - 4.34

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: MSCI ACWI (All Country World Index) Index NR. NR: NR at the end of the benchmark name indicates the return is calculated including reinvesting net dividends. The dividend is reinvested after deduction of withholding tax, applying the withholding tax rate to non-resident individuals who do not benefit from double taxation treaties.

Sectors, holdings and distributions

As at 30 June 2018

As at 30 June 2018

% total net assets
NEXTERA ENERGY INC 2.3%
MICROSOFT CORP 2.2%
JPMORGAN CHASE & CO 2.2%
VERIZON COMMUNICATIONS INC 2.1%
CHARLES RIVER LABS INTL INC 2.0%
SANTEN PHARMACEUTICAL CO LTD 2.0%
KONICA MINOLTA INC 2.0%
KONINKLIJKE PHILIPS NV 1.9%
MORGAN STANLEY 1.9%
AMADEUS IT GROUP SA 1.8%

As at 30 June 2018

Fund % Benchmark % Relative %
NEXTERA ENERGY INC 2.3 0.2 2.1
KONICA MINOLTA INC 2.0 0.0 2.0
SANTEN PHARMACEUTICAL CO LTD 2.0 0.0 2.0
CHARLES RIVER LABS INTL INC 2.0 0.0 2.0
KONINKLIJKE PHILIPS NV 1.9 0.1 1.8

As at 30 June 2018

Fund % Benchmark % Relative %
AMAZON.COM INC 0.0 1.5 - 1.5
FACEBOOK INC 0.0 1.0 - 1.0
EXXON MOBIL CORP 0.0 0.8 - 0.8
JOHNSON & JOHNSON 0.0 0.7 - 0.7
ROYAL DUTCH SHELL PLC 0.0 0.6 - 0.6
Distribution Distribution (CPU) Reinvestment price
30-Jun-18 51.1516 $10.6813

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. 

Related insights

2018 outlook: Global equities
Amit Lodha

2018 outlook: Global equities

When considering what might cause surprise for investors in 2018, I think it’s prudent to look more closely at factors that are not currently causing concern.

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. 

Why this fund

Designed to deliver investors strong risk-adjusted returns, through bottom up stock selection.

Looks to capture the highest conviction investment ideas identified by Fidelity's research analysts around the world.

A consistent and repeatable investment process.

Meet Hiten Savani

Co-portfolio Manager, Hiten Savani, talks through their investment process and explains the unique advantages of the Fidelity FIRST Global Fund.

Related insights

2018 outlook: Global equities
Amit Lodha

2018 outlook: Global equities

When considering what might cause surprise for investors in 2018, I think it’s prudent to look more closely at factors that are not currently causing concern.

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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.