Investment objective
To achieve returns in excess of the MSCI All Country World Index NR over the suggested minimum investment time period of five to seven years.
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 November 2018
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | 3.51 | 2.94 | 0.57 |
| 3 yr % pa | 8.65 | 8.28 | 0.37 |
| 5 yr % pa | 12.09 | 11.03 | 1.06 |
| 7 yr % pa | 15.84 | 14.96 | 0.88 |
| 10 yr % pa | 11.05 | 9.01 | 2.04 |
| 15 yr % pa | 8.47 | 6.65 | 1.82 |
| 20 yr % pa | 5.26 | 3.92 | 1.34 |
| Since inception (15/04/98) % pa | 5.71 | 4.01 | 1.70 |
| 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 | 3.51 | 8.65 | 12.09 | 15.84 | 11.05 | 8.47 | 5.26 | 5.71 |
| Benchmark | 2.94 | 8.28 | 11.03 | 14.96 | 9.01 | 6.65 | 3.92 | 4.01 |
| Active return | 0.57 | 0.37 | 1.06 | 0.88 | 2.04 | 1.82 | 1.34 | 1.70 |
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 (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.
Our focus is to identify long-term winners. See for yourself how the Fidelity Global Equities Fund, a portfolio of 80-120 of our best global ideas, has performed compared to the fund's benchmark.
Chart as at: 30 November 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: MSCI ACWI (All Country World Index) 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 November 2018
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | 3.51 | 3.14 | 0.37 |
| 3 yr % pa | 8.65 | 8.06 | 0.59 |
| 5 yr % pa | 12.09 | 11.39 | 0.7 |
| 7 yr % pa | 15.84 | 15.14 | 0.7 |
| 10 yr % pa | 11.05 | 10.31 | 0.74 |
| 15 yr % pa | 8.47 | 7.76 | 0.71 |
| 20 yr % pa | 5.26 | 3.85 | 1.41 |
| Since inception (15/04/98) % pa | 5.71 | 4.19 | 1.52 |
| 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 | 3.51 | 8.65 | 12.09 | 15.84 | 11.05 | 8.47 | 5.26 | 5.71 |
| Growth | 3.14 | 8.06 | 11.39 | 15.14 | 10.31 | 7.76 | 3.85 | 4.19 |
| Income | 0.37 | 0.59 | 0.7 | 0.7 | 0.74 | 0.71 | 1.41 | 1.52 |
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 (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 October 2018
As at 31 October 2018
| % total net assets | |
|---|---|
| MICROSOFT CORP | 2.4% |
| MERCK & CO INC NEW | 2.2% |
| ALPHABET INC | 1.9% |
| ROYAL DUTCH SHELL PLC | 1.9% |
| WELLS FARGO & CO NEW | 1.7% |
| ROCHE HOLDING LTD | 1.7% |
| JPMORGAN CHASE & CO | 1.7% |
| ORACLE CORP | 1.6% |
| VISA INC | 1.6% |
| COCA COLA CO | 1.5% |
As at 31 October 2018
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| MERCK & CO INC NEW | 2.2 | 0.5 | 1.8 |
| NORFOLK SOUTHERN CORP | 1.4 | 0.1 | 1.3 |
| ORACLE CORP | 1.6 | 0.3 | 1.3 |
| ROCHE HOLDING LTD | 1.7 | 0.4 | 1.3 |
| ROYAL DUTCH SHELL PLC | 1.9 | 0.6 | 1.2 |
As at 31 October 2018
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| AMAZON.COM INC | 0.0 | 1.5 | - 1.5 |
| APPLE INC | 1.5 | 2.5 | - 1.0 |
| JOHNSON & JOHNSON | 0.0 | 0.9 | - 0.9 |
| FACEBOOK INC | 0.0 | 0.8 | - 0.8 |
| EXXON MOBIL CORP | 0.0 | 0.8 | - 0.8 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 30-Jun-18 | 8.3922 | $23.9158 |
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
The winners of tomorrow
A decade ago, the top ten companies in the world were dominated by China and energy companies. Today, seven of the top ten are technology companies. So how do we find tomorrow's winners today?
Read transcript
'Technology' capex: a virtuous or vicious cycle?
Amit asks the question is tech innovation driving higher ROICs, or is it innovation for innovation’s sake?
Checks and balances
When looking for potential problems in a company, the first place to look is the balance sheet says Amit Lodha, Portfolio Manager at the Fidelity Global Equities Fund.
Dig a little deeper
Ten years into the recovery, and with valuations close to or at historical highs, there’s little denying that we’re getting late in the cycle. However valuations are only half the story.
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.
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
Access a diversified portfolio of around 80-120 of our best ideas globally.
20 year track record with a proven investment approach to identify sustainable pricing power.
A global team providing unique insights into investment themes and ideas backed by 400 Fidelity investment professionals.
Meet Amit Lodha
Amit Lodha, Portfolio Manager of Fidelity’s Global Equities Fund talks about what the Fund can offer investors, his passion for investing and how he finds the long-term winners for the portfolio.
Related insights
The winners of tomorrow
A decade ago, the top ten companies in the world were dominated by China and energy companies. Today, seven of the top ten are technology companies. So how do we find tomorrow's winners today?
Read transcript
'Technology' capex: a virtuous or vicious cycle?
Amit asks the question is tech innovation driving higher ROICs, or is it innovation for innovation’s sake?
Checks and balances
When looking for potential problems in a company, the first place to look is the balance sheet says Amit Lodha, Portfolio Manager at the Fidelity Global Equities Fund.
Dig a little deeper
Ten years into the recovery, and with valuations close to or at historical highs, there’s little denying that we’re getting late in the cycle. However valuations are only half the story.
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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.
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.