Investment objective
To achieve returns in excess of the MSCI All Country World Index NR over the medium to long term.
A diversified portfolio of 80-120 of some of the best ideas globally drawn from Fidelity's global research and financial modelling.
Uses a rigorous bottom-up stock selection process that focuses on finding companies with sustainable pricing power, strong management and companies investing for future growth.
Designed to be a core international holding.
Key facts
Fund performance2
Net returns as at 30 June 2022
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | -13.97 | -8.02 | -5.95 |
| 3 yr % pa | 6.89 | 6.93 | -0.04 |
| 5 yr % pa | 9.96 | 9.37 | 0.59 |
| 7 yr % pa | 9.12 | 8.70 | 0.42 |
| 10 yr % pa | 13.84 | 13.19 | 0.65 |
| 15 yr % pa | 7.57 | 6.11 | 1.46 |
| 20 yr % pa | 6.86 | 5.77 | 1.09 |
| Since inception (15/04/98) % pa | 6.27 | 4.77 | 1.50 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
15 yr % pa |
20 yr % pa |
Since inception (15/04/98) % pa |
|---|---|---|---|---|---|---|---|---|
| Fund | -13.97 | 6.89 | 9.96 | 9.12 | 13.84 | 7.57 | 6.86 | 6.27 |
| Benchmark | -8.02 | 6.93 | 9.37 | 8.70 | 13.19 | 6.11 | 5.77 | 4.77 |
| Active return | -5.95 | -0.04 | 0.59 | 0.42 | 0.65 | 1.46 | 1.09 | 1.50 |
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 All Country World Index NR (effective 1 November 2011). Benchmark between December 2006 and 1 November 2011 was the MSCI World Index, and prior to December 2006 and 1 November 2011 was the MSCI World Index ex.Australia. 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.
See for yourself how the Fund has performed since inception. The chart below represents the value now of $10,000 invested in the Fidelity Global Equities Fund from the Fund's inception in April 1998 compared with $10,000 invested in the MSCI All Country World Index NR.
Chart as at: 30 June 2022
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 All Country World Index NR (effective 1 November 2011). Benchmark between December 2006 and 1 November 2011 was the MSCI World Index, and prior to December 2006 and 1 November 2011 was the MSCI World Index ex.Australia. 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 June 2022
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | -13.97 | -13.99 | 0.02 |
| 3 yr % pa | 6.89 | 6.54 | 0.35 |
| 5 yr % pa | 9.96 | 9.49 | 0.47 |
| 7 yr % pa | 9.12 | 8.54 | 0.58 |
| 10 yr % pa | 13.84 | 13.25 | 0.59 |
| 15 yr % pa | 7.57 | 6.91 | 0.66 |
| 20 yr % pa | 6.86 | 6.28 | 0.58 |
| Since inception (15/04/98) % pa | 6.27 | 4.93 | 1.34 |
| 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
15 yr % pa |
20 yr % pa |
Since inception (15/04/98) % pa |
|
|---|---|---|---|---|---|---|---|---|
| Total return | -13.97 | 6.89 | 9.96 | 9.12 | 13.84 | 7.57 | 6.86 | 6.27 |
| Growth | -13.99 | 6.54 | 9.49 | 8.54 | 13.25 | 6.91 | 6.28 | 4.93 |
| Income | 0.02 | 0.35 | 0.47 | 0.58 | 0.59 | 0.66 | 0.58 | 1.34 |
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 All Country World Index NR (effective 1 November 2011). Benchmark between December 2006 and 1 November 2011 was the MSCI World Index, and prior to December 2006 and 1 November 2011 was the MSCI World Index ex.Australia. 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 May 2022
As at 31 May 2022
| % total net assets | |
|---|---|
| MICROSOFT CORP | 5.6% |
| ALPHABET INC | 4.2% |
| AMAZON.COM INC | 4.1% |
| BERKSHIRE HATHAWAY INC DEL | 3.6% |
| UNITEDHEALTH GROUP INC | 3.1% |
| CANADIAN PACIFIC RAILWAY LTD | 2.6% |
| GALLAGHER (ARTHUR J.) & CO | 2.3% |
| NESTLE SA | 2.1% |
| AUTODESK INC | 2.0% |
| VINCI SA | 1.9% |
As at 31 May 2022
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | 3.6 | 0.7 | 2.9 |
| CANADIAN PACIFIC RAILWAY LTD | 2.6 | 0.1 | 2.4 |
| MICROSOFT CORP | 5.6 | 3.2 | 2.4 |
| GALLAGHER (ARTHUR J.) & CO | 2.3 | 0.1 | 2.3 |
| AMAZON.COM INC | 4.1 | 1.8 | 2.3 |
As at 31 May 2022
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| APPLE INC | 1.6 | 4.0 | -2.5 |
| TESLA INC | 0.0 | 1.1 | -1.1 |
| JOHNSON & JOHNSON | 0.0 | 0.8 | -0.8 |
| NVIDIA CORP | 0.0 | 0.8 | -0.8 |
| EXXON MOBIL CORP | 0.0 | 0.7 | -0.7 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 0.5908 | $37.3982 |
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 downloads
- Additional Information
- Fund Flyer(305.53KB)
- Case for global investing(565.13KB)
- Product Disclosure Statement(1.93MB)
- Fund fact sheet(80.36KB)
- Application form(908.62KB)
- Target Market Determination (TMD)
Fund ratings3
| Organisation | Rating / Recommendation |
|---|---|
| Lonsec |
Investment grade4
The Lonsec Report is only available to financial advisers, please contact us for a copy |
| Morningstar | Neutral5 |
| Zenith | Recommended6 |
Morningstar 2020 Australia Fund Manager of the Year7
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This Fund is unhedged and is subject to the risk of fluctuations in international stock markets and currencies. 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. Prior to December 2006, the benchmark for the fund was MSCI World ex Australia.
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 exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax. Returns of more than one year are annualised. The return of capital is not guaranteed.
Why this fund
The Fund aims to provide sustained compounding returns, and seeks to manage downside risk by diversifying across sectors, countries and companies.
Designed to be a core holding, the Fund has an over 20-year proven track record of solid performance.
A global team providing unique insights into investment themes and ideas backed by over 400 Fidelity investment professionals.
Meet Ashish Kochar
Portfolio Manager, Asish Kochar talks to his vast industry experience as well as his investment approach since taking the lead on the Fidelity Global Equities Fund.
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Australian equities are a popular choice for investors, currently making up the largest share (35%) of SMSF funds under management. But by limiting your portfolio to domestic shares, you’re missing out on exposure to a huge number of the world’s most successful companies.
How can you diversify your portfolio?
A portfolio heavily weighted to Australian equities can carry concentration risk and limit your portfolio's diversification. Are you missing a world of opportunity?
How can you capture growth?
With 41,000+ listed companies on stock exchanges worldwide, investing globally can feel too big, or too risky and complicated. But it doesn't have to be; in fact, it may be easier than you think.
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This Fund is unhedged and is subject to the risk of fluctuations in international stock markets and currencies. 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. Prior to December 2006, the benchmark for the fund was MSCI World ex Australia.
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 exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax. Returns of more than one year are annualised. The return of capital is not guaranteed.