Fidelity Global Equities Fund
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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

About this fund
Unit prices (at 21/03/19) Buy 25.2733 / Sell 25.1221 Unit price history
Buy/sell spread 0.30%/0.30%
Management costs1 0.99% p.a. Fee disclosure document
Fund size (at 21/03/19) A$325.82M
Inception date 15 April 1998
Distribution frequency Annually
Currency Australian dollar
Benchmark MSCI All Country World Index NR
About the manager
Portfolio manager Amit Lodha
Appointed to fund 01 October 2010
Location London
Joined Fidelity 2004
Unique identifiers
APIR code FID0007AU
ARSN code 093163672
mFund code FIL07

Fund performance2

Net returns as at 28 February 2019

Timeframe Fund Benchmark Active return
1 yr % 9.25 8.61 0.64
3 yr % pa 13.51 13.02 0.49
5 yr % pa 12.02 11.27 0.75
7 yr % pa 16.10 15.00 1.10
10 yr % pa 12.71 11.26 1.45
15 yr % pa 8.66 6.84 1.82
20 yr % pa 4.63 3.92 0.71
Since inception (15/04/98) % pa 5.92 4.24 1.68
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 9.25 13.51 12.02 16.10 12.71 8.66 4.63 5.92
Benchmark 8.61 13.02 11.27 15.00 11.26 6.84 3.92 4.24
Active return 0.64 0.49 0.75 1.10 1.45 1.82 0.71 1.68

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.

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 September 2005 compared with $10,000 invested in the MSCI All Country World Index NR. 
 

    Fidelity Global Equities Fund
    0
    MSCI All Country World Index NR
    0

    Chart as at: 28 February 2019

    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 28 February 2019

    As at 28 February 2019

    % total net assets
    MICROSOFT CORP 2.4%
    ALPHABET INC 2.1%
    MERCK & CO INC NEW 2.0%
    ROCHE HOLDING LTD 1.8%
    ROYAL DUTCH SHELL PLC 1.6%
    VISA INC 1.6%
    ORACLE CORP 1.6%
    JPMORGAN CHASE & CO 1.5%
    WELLS FARGO & CO NEW 1.4%
    BOSTON SCIENTIFIC CORP 1.4%

    As at 28 February 2019

    Fund % Benchmark % Relative %
    MERCK & CO INC NEW 2.0 0.5 1.5
    ROCHE HOLDING LTD 1.8 0.4 1.4
    SONOVA HLDG AG 1.3 0.0 1.3
    ORACLE CORP 1.6 0.3 1.3
    BOSTON SCIENTIFIC CORP 1.4 0.1 1.3

    As at 28 February 2019

    Fund % Benchmark % Relative %
    APPLE INC 0.4 1.9 - 1.5
    FACEBOOK INC 0.0 0.9 - 0.9
    AMAZON.COM INC 0.7 1.5 - 0.8
    JOHNSON & JOHNSON 0.0 0.8 - 0.8
    EXXON MOBIL CORP 0.0 0.7 - 0.7
    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. 

    Fund ratings3

    Organisation Rating / Recommendation
    Lonsec
    Rated4 
    The Lonsec Report is only available to financial advisers,
    please contact us for a copy.
    Morningstar Neutral5
    Zenith  Recommended6

    Related insights

    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.

    2 Total returns (net) have been calculated using mid prices and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax or the buy/sell spread.  Returns of more than one year are annualised. The return of capital is not guaranteed.

    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 February 2019) 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.

    5© 2019 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice or ‘class service’ have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement (Australian products) or Investment Statement (New Zealand products) before making any decision to invest. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782 ("ASXO"). Rating assigned January 2019.

    6Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned November 2018) referred to in this document is limited to “General Advice” (as defined by the Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessment’s and at http://www.zenithpartners.com.au/RegulatoryGuidelines

    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

    From the desk of Amit Lodha

    Sign up for Amit's insights on companies around the globe

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    Amit Lodha
     

    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.

    2 Total returns (net) have been calculated using mid prices and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax or the buy/sell spread.  Returns of more than one year are annualised. The return of capital is not guaranteed.

    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 February 2019) 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.

    5© 2019 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice or ‘class service’ have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement (Australian products) or Investment Statement (New Zealand products) before making any decision to invest. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782 ("ASXO"). Rating assigned January 2019.

    6Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned November 2018) referred to in this document is limited to “General Advice” (as defined by the Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessment’s and at http://www.zenithpartners.com.au/RegulatoryGuidelines