Investment objective
To achieve returns in excess of the MSCI World Mid Cap Index NR over the medium to long term.
A diversified portfolio of 40-70 small-to-mid-cap global 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 performance3
Net returns as at 30 September 2021
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | 33.57 | 32.04 | 1.53 |
| 3 yr % pa | - | - | - |
| 5 yr % pa | - | - | - |
| Since inception (28/09/20) % pa | 32.01 | 29.55 | 2.46 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (28/09/20) % pa |
|---|---|---|---|---|
| Fund | 33.57 | - | - | 32.01 |
| Benchmark | 32.04 | - | - | 29.55 |
| Active return | 1.53 | - | - | 2.46 |
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 World Mid Cap Index 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 Future Leaders Fund in September 2020 compared with $10,000 invested in the MSCI World Mid Cap Index NR.
Chart as at: 30 September 2021
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 World Mid Cap Index 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 September 2021
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | 33.57 | 32.01 | 1.56 |
| 3 yr % pa | - | - | - |
| 5 yr % pa | - | - | - |
| Since inception (28/09/20) % pa | 32.01 | 30.48 | 1.53 |
| 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (28/09/20) % pa |
|
|---|---|---|---|---|
| Total return | 33.57 | - | - | 32.01 |
| Growth | 32.01 | - | - | 30.48 |
| Income | 1.56 | - | - | 1.53 |
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 World Mid Cap Index 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 30 September 2021
As at 30 September 2021
| % total net assets | |
|---|---|
| CHENIERE ENERGY INC | 3.7% |
| ICON PLC | 3.4% |
| CDW CORP | 3.4% |
| GALLAGHER (ARTHUR J.) & CO | 3.2% |
| ARISTA NETWORKS INC | 3.2% |
| SCIENTIFIC GAMES CORP | 3.0% |
| MONCLER SPA | 3.0% |
| SONOVA HLDG AG | 2.8% |
| DEVON ENERGY CORP NEW | 2.6% |
| TECHTRONIC INDUSTRIES CO LTD | 2.6% |
As at 30 September 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| CHENIERE ENERGY INC | 3.7 | 0.2 | 3.5 |
| ICON PLC | 3.4 | 0.0 | 3.4 |
| CDW CORP | 3.4 | 0.3 | 3.1 |
| ARISTA NETWORKS INC | 3.2 | 0.2 | 3.0 |
| SCIENTIFIC GAMES CORP | 3.0 | 0.0 | 3.0 |
As at 30 September 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| MARVELL TECHNOLOGY INC | 0.0 | 0.5 | -0.5 |
| PALO ALTO NETWORKS INC | 0.0 | 0.5 | -0.5 |
| CARRIER GLOBAL CORP | 0.0 | 0.4 | -0.4 |
| MICROCHIP TECHNOLOGY INC | 0.0 | 0.4 | -0.4 |
| FORTINET INC | 0.0 | 0.4 | -0.4 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 30-Jun-21 | 14.9148 | $12.6159 |
Fund downloads
- Quarterly Top 10 holdings(666.53KB)
- Fund fact sheet(79.14KB)
- Additional information
- Product Disclosure Statement(1.93MB)
- Fund flyer(1.02MB)
- Application form(628.30KB)
- Target Market Determination (TMD)
Fund ratings4
| Organisation | Rating / Recommendation |
|---|---|
| Zenith | Recommended5 |
Morningstar 2020 Australia Fund Manager of the Year6
From the desk of James Abela & Maroun Younes
Hear their insights into global mid-small cap companies, the market and their fund by subscribing to their regular update.
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Related insights
The benefits of global mid and small cap investing
With around 1000 companies in the MSCI World Mid Cap Index, and almost 4000 companies in the investible universe the opportunities are vast. This can be daunting for investors however it’s the size and diversity that makes mid to small-cap equity investing at the global level so attractive.
Diversify your portfolio
When it comes to success stories, the ASX includes many brands that have made their mark. However, a portfolio heavily weighted to Australian equities can carry concentration risk and limit your portfolio's diversification. Are you missing a world of opportunity?
Podcast: Investing in the global leaders of tomorrow
Co Portfolio Managers James Abela and Maroun Younes joined Netwealth's Portfolio Construction podcast to explore the factors driving performance in the global small and mid-cap sector and its future outlook. Discover the opportunities outside of Australia and why more investors should consider a global small and mid cap strategy.
Capture growth in rapidly expanding themes and sectors
Global shares also offer diversification across sectors and market capitalisation that would not be possible to achieve by investing in Australian equities alone. With more than 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, access to international markets may be easier than you think.
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. Investors accessing the Fund through mFund may also bear any fees charged by their broker and, if applicable, by their adviser. Any apparent discrepancies in the numbers are due to rounding.
1 Management fees 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 A performance fee is only payable once any prior periods’ underperformance in dollar terms has been recovered and is also subject to a performance fee cap of 0.9% of the Fund’s closing net assets per performance period. The performance period is six months, calculated on 30 June and 31 December each year.
4You 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.
5The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned September 2020) 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
6Morningstar Awards 2020 ©. Morningstar, Inc. All Rights Reserved. Awarded to Fidelity International for Morningstar 2020 Australia Fund Manager of the Year.
Why this fund
Access to global large-caps of tomorrow, today
An actively managed portfolio of 40 to 70 small to mid-cap global shares
Offers investors a unique approach to portfolio construction which aims to deliver consistent returns through different market cycles
Meet James and Maroun
James Abela and Maroun Younes, Co-Portfolio Managers for the Fidelity Global Future Leaders Fund reveal what drives their passion for investing, why global mid and small caps are an exciting place to be, and the benefits of the co-portfolio manager structure.
Process and philosophy
James and Maroun talk about how they uncover the future leaders of tomorrow through the Fund's tried and tested approach.
Related insights
The benefits of global mid and small cap investing
With around 1000 companies in the MSCI World Mid Cap Index, and almost 4000 companies in the investible universe the opportunities are vast. This can be daunting for investors however it’s the size and diversity that makes mid to small-cap equity investing at the global level so attractive.
Diversify your portfolio
When it comes to success stories, the ASX includes many brands that have made their mark. However, a portfolio heavily weighted to Australian equities can carry concentration risk and limit your portfolio's diversification. Are you missing a world of opportunity?
Podcast: Investing in the global leaders of tomorrow
Co Portfolio Managers James Abela and Maroun Younes joined Netwealth's Portfolio Construction podcast to explore the factors driving performance in the global small and mid-cap sector and its future outlook. Discover the opportunities outside of Australia and why more investors should consider a global small and mid cap strategy.
Capture growth in rapidly expanding themes and sectors
Global shares also offer diversification across sectors and market capitalisation that would not be possible to achieve by investing in Australian equities alone. With more than 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, access to international markets may be easier than you think.
Past insights from James and Maroun
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. Investors accessing the Fund through mFund may also bear any fees charged by their broker and, if applicable, by their adviser. Any apparent discrepancies in the numbers are due to rounding.
1 Management fees 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 A performance fee is only payable once any prior periods’ underperformance in dollar terms has been recovered and is also subject to a performance fee cap of 0.9% of the Fund’s closing net assets per performance period. The performance period is six months, calculated on 30 June and 31 December each year.
4You 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.
5The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned September 2020) 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
6Morningstar Awards 2020 ©. Morningstar, Inc. All Rights Reserved. Awarded to Fidelity International for Morningstar 2020 Australia Fund Manager of the Year.