Investment objective
To achieve returns in excess of the S&P/ASX 200 Mid Small Index over the suggested minimum investment time period of five to seven years.
A diversified portfolio of 40-70 small-to mid-cap Australian companies.
Uses a rigorous bottom-up stock selection process that focuses on finding attractively valued companies with strong competitive positioning and sound company management.
A strong emphasis on building a diversified and balanced portfolio that aims to deliver more consistent returns through different market cycles.
Key facts
Fund performance2
Net returns as at 31 May 2018
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | 27.87 | 18.98 | 8.89 |
| 3 yr % pa | 15.33 | 12.15 | 3.18 |
| 5 yr % pa | - | - | - |
| Since inception (22/07/13) % pa | 15.80 | 12.72 | 3.08 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (22/07/13) % pa |
|---|---|---|---|---|
| Fund | 27.87 | 15.33 | - | 15.80 |
| Benchmark | 18.98 | 12.15 | - | 12.72 |
| Active return | 8.89 | 3.18 | - | 3.08 |
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 Mid Small 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 Future Leaders Fund in July 2013 compared with $10,000 invested in the S&P/ ASX 200 Mid Small Index.
Chart as at: 31 May 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 Mid Small Index.
Net as at 31 May 2018
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | 27.87 | 26.17 | 1.7 |
| 3 yr % pa | 15.33 | 13.56 | 1.77 |
| 5 yr % pa | - | - | - |
| Since inception (22/07/13) % pa | 15.8 | 14.18 | 1.62 |
| 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (22/07/13) % pa |
|
|---|---|---|---|---|
| Total return | 27.87 | 15.33 | - | 15.8 |
| Growth | 26.17 | 13.56 | - | 14.18 |
| Income | 1.7 | 1.77 | - | 1.62 |
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 Mid Small Index.
Sectors, holdings and distributions
As at 31 May 2018
As at 31 May 2018
| % total net assets | |
|---|---|
| COCHLEAR LTD | 4.9% |
| RESMED INC | 4.2% |
| BLUESCOPE STL LTD | 3.7% |
| EVOLUTION MINING LTD | 3.3% |
| REA GROUP LTD | 3.2% |
| ANSELL LTD | 3.0% |
| WORLEYPARSONS LTD | 2.7% |
| ALS LTD | 2.7% |
| ALTIUM LTD | 2.6% |
| CORPORATE TRAVEL MANAGEMNT LTD | 2.5% |
As at 31 May 2018
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| RESMED INC | 4.2 | 1.7 | 2.5 |
| HUB24 LTD | 2.3 | 0.2 | 2.1 |
| NETWEALTH GROUP LIMITED | 2.3 | 0.2 | 2.1 |
| COCHLEAR LTD | 4.9 | 2.8 | 2.1 |
| EVOLUTION MINING LTD | 3.3 | 1.2 | 2.1 |
As at 31 May 2018
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| TABCORP HLDG LTD | 0.0 | 2.2 | - 2.2 |
| SEEK LTD | 0.3 | 1.8 | - 1.4 |
| BENDIGO AND ADELAIDE BANK LTD | 0.0 | 1.3 | - 1.3 |
| ILUKA RES LTD | 0.0 | 1.2 | - 1.2 |
| ORORA LTD | 0.0 | 1.0 | - 1.0 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 31-Mar-18 | 0.000000 | $17.5915 |
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
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
Seeks to capture Australian large-caps of tomorrow, today.
An actively managed portfolio of 40 to 70 small to mid-cap Australian shares.
Offers investors a unique approach to portfolio construction which aims to deliver consistent returns through different market cycles.
Morningstar 2018 Fund Manager of the Year Award
Hear from James directly about recently winning this award, how he is positioned in today's market and the importance of risk when it comes to his portfolio. James's unique investment process (QMTV - Quality, Momentum, Transition, Value) enables a risk-aware balance of stocks to deliver consistent returns through different market cycles.
From the desk of James Abela
Hear James’ insights into mid-small cap companies, the market and his fund by subscribing to his regular update.
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Download past insights from James
- From the desk of James - March 2018(136.85KB)
- From the desk of James - December 2017(242.78KB)
- From the desk of James - September 2017(198.83KB)
- From the desk of James - April 2017(204.59KB)
- From the desk of James - December 2016(198.43KB)
- From the desk of James - August 2016(185.89KB)
- From the desk of James - May 2016(198.14KB)
- From the desk of James - February 2016(200.61KB)
Awards6
James Abela, Portfolio Manager of the Fidelity Future Leaders Fund has won the Morningstar 2018 Fund Manager of the Year Award - Domestic Equities Small Cap Category*. It is an institutional-grade recognition of risk and return, and tribute to his unique investment process QMTV (Quality, Momentum, Transition & Value).
*Morningstar Awards 2018 ©. Morningstar, Inc. All Rights Reserved. Awarded to James Abela, Portfolio Manager, Future Leaders Fund, Fund Manger of the Year, Domestic Equities Small Caps, Australia.
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.