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 06/12/18) Buy 10.4689 / Sell 10.4063 Unit price history
Buy/sell spread 0.30%/0.30%
Management costs1 1.15% p.a. Fee disclosure document
Fund size (at 06/12/18) A$2.86M
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 30 November 2018

Timeframe Fund Benchmark Active return
1 yr % 0.39 2.94 -2.55
3 yr % pa - - -
5 yr % pa - - -
Since inception (26/04/17) % pa 6.98 8.32 -1.34
Timeframe 1 yr
%
3 yr
% pa
5 yr
% pa
Since inception
(26/04/17) % pa
Fund 0.39 - - 6.98
Benchmark 2.94 - - 8.32
Active return -2.55 - - -1.34

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 30 November 2018

Total return Growth Income
1 yr % 0.39 -4.2 4.59
3 yr % pa - - -
5 yr % pa - - -
Since inception (26/04/17) % pa 6.98 3.68 3.3
1 yr
%
3 yr
% pa
5 yr
% pa
Since inception
(26/04/17) % pa
Total return 0.39 - - 6.98
Growth -4.2 - - 3.68
Income 4.59 - - 3.3

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 31 October 2018

As at 31 October 2018

% total net assets
NEXTERA ENERGY INC 2.5%
VERIZON COMMUNICATIONS INC 2.5%
JPMORGAN CHASE & CO 2.4%
KONICA MINOLTA INC 2.4%
MICROSOFT CORP 2.3%
ROCHE HOLDING LTD 2.1%
WALGREENS BOOTS ALLIANCE INC 2.0%
ORACLE CORP 2.0%
CHARLES RIVER LABS INTL INC 1.9%
MORGAN STANLEY 1.9%

As at 31 October 2018

Fund % Benchmark % Relative %
KONICA MINOLTA INC 2.4 0.0 2.3
NEXTERA ENERGY INC 2.5 0.2 2.3
CHARLES RIVER LABS INTL INC 1.9 0.0 1.9
VERIZON COMMUNICATIONS INC 2.5 0.5 1.9
WALGREENS BOOTS ALLIANCE INC 2.0 0.2 1.9

As at 31 October 2018

Fund % Benchmark % Relative %
AMAZON.COM INC 0.0 1.5 - 1.5
JOHNSON & JOHNSON 0.0 0.9 - 0.9
EXXON MOBIL CORP 0.0 0.8 - 0.8
ROYAL DUTCH SHELL PLC 0.0 0.6 - 0.6
BANK OF AMERICA CORPORATION 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. 

Fund ratings3

Organisation Rating / Recommendation
Lonsec
Rated4
The Lonsec Report is only available to financial advisers,
please contact us for a copy

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.

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.

4The Lonsec Rating (assigned March 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

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

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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.

4The Lonsec Rating (assigned March 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