Fidelity Global Equities Fund

Fidelity Global Equities Fund
Fund fact sheet Invest now

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.

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: Why he's interested in investing in global equities

Ashish, the Lead Portfolio Manager for the Fidelity Global Equities Fund reveals what he still finds alluring about investing and global equities after nearly two decades and the benefits of the Fidelity research platform which gives him the ability to identify some of the best global opportunities across the globe.

Key facts

Unit prices (at 17/05/24)
Buy 45.5872 / Sell 45.4052
Unit price history
Buy/sell spread
0.20%/0.20%

At a glance

Management costs1
0.99% p.a.
Fund size (at 17/05/24)
A$511.46M
Inception date
15 April 1998
Distribution frequency
Annually
Currency
Australian dollar
Benchmark
MSCI All Country World Index NR

Unique identifiers

APIR code
FID0007AU
ARSN code
093163672
mFund code
FIL07

Fund manager

Ashish Kochar
London

Performance2

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 April 2024

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 returns as at 30 April 2024

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 17.35 7.87 11.68 12.22 12.97 12.45 9.48 7.19
Benchmark 19.54 10.48 11.22 11.70 12.11 11.38 8.01 5.74
Active return -2.19 -2.61 0.46 0.52 0.86 1.07 1.47 1.45

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 April 2024

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 17.35 7.87 11.68 12.22 12.97 12.45 9.48 7.19
Growth 16.87 7.58 11.28 11.75 12.41 11.97 8.85 5.89
Income 0.47 0.29 0.40 0.47 0.56 0.49 0.63 1.29

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.

DistributionDistribution (CPU)Reinvestment price
30-Jun-2316.1582$39.8453

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. 

Sectors and holdings

As at 30 April 2024

As at 30 April 2024

% total net assets
MICROSOFT CORP 4.2%
VISA INC 4.1%
AON PLC 4.1%
TAIWAN SEMICONDUCTOR MFG CO LTD 3.8%
AMAZON.COM INC 3.6%
AIRBUS SE 3.4%
HDFC BANK LTD 3.4%
ORACLE CORP 3.0%
BERKSHIRE HATHAWAY INC DEL 2.8%
S&P GLOBAL INC 2.5%

As at 30 April 2024

Fund % Benchmark % Relative %
AON PLC 4.1 0.1 4.0
VISA INC 4.1 0.6 3.5
HDFC BANK LTD 3.4 0.1 3.3
AIRBUS SE 3.4 0.1 3.3
TAIWAN SEMICONDUCTOR MFG CO LTD 3.8 0.9 2.9

As at 30 April 2024

Fund % Benchmark % Relative %
NVIDIA CORP 0.0 3.1 -3.1
APPLE INC 1.6 3.6 -2.0
ELI LILLY & CO 0.0 0.9 -0.9
ALPHABET INC 1.8 2.6 -0.8
JPMORGAN CHASE & CO 0.0 0.8 -0.8

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

Ways to invest

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. 

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 May 2024) 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© 2024 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 March 2024.

6Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned November 2023) 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