Fidelity Global Future Leaders Fund
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Fidelity Global Future Leaders Fund

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 at a glance
Unit prices (at 29/02/24) Buy 15.0036 / Sell 14.9438 Unit price history
Buy/sell spread 0.20%/0.20%
Management fee1 1.10% p.a
Fund size (at 29/02/24) A$71.23M
Inception date 28 September 2020
Distribution frequency Annually
Currency Australian dollar
Benchmark MSCI World Mid Cap Index NR
About the manager
Portfolio manager James Abela, Maroun Younes
Appointed to fund 28 September 2020
Location Sydney
Joined Fidelity 2004 / 2012
Unique identifiers
APIR code FID5543AU
ARSN code 641516476
mFund code FIL43

Fund 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 Future Leaders Fund in September 2020 compared with $10,000 invested in the MSCI World Mid Cap Index NR.

    Fidelity Global Future Leaders Fund
    0
    MSCI World Mid Cap Index NR
    0

    Chart as at: 31 January 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 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 returns as at 31 January 2024

    Timeframe Fund Benchmark Active return
    1 yr % 12.10 12.22 -0.12
    3 yr % pa 10.14 8.19 1.95
    5 yr % pa - - -
    Since inception (28/09/20) % pa 11.12 10.00 1.12
    Timeframe 1 yr
    %
    3 yr
    % pa
    5 yr
    % pa
    Since inception
    (28/09/20) % pa
    Fund 12.10 10.14 - 11.12
    Benchmark 12.22 8.19 - 10.00
    Active return -0.12 1.95 - 1.12

    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 31 January 2024

    Total return Growth Income
    1 yr % 12.1 12.1 -
    3 yr % pa 10.14 9.46 0.68
    5 yr % pa - - -
    Since inception (28/09/20) % pa 11.12 10.51 0.61
    1 yr
    %
    3 yr
    % pa
    5 yr
    % pa
    Since inception
    (28/09/20) % pa
    Total return 12.1 10.14 - 11.12
    Growth 12.1 9.46 - 10.51
    Income - 0.68 - 0.61

    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 31 January 2024

    As at 31 January 2024

    % total net assets
    CDW CORP 3.9%
    JAMES HARDIE INDUSTRIES PLC 3.4%
    AMETEK INC NEW 3.2%
    UNITED RENTALS INC 3.2%
    WESTERN DIGITAL CORP 3.2%
    ARES MANAGEMENT CORP 3.1%
    NVR INC 2.9%
    CBOE GLOBAL MARKETS INC 2.8%
    TDK CORP 2.8%
    QUANTA SVCS INC 2.7%

    As at 31 January 2024

    Fund % Benchmark % Relative %
    CDW CORP 3.9 0.3 3.5
    JAMES HARDIE INDUSTRIES PLC 3.4 0.2 3.2
    WESTERN DIGITAL CORP 3.2 0.2 2.9
    ARES MANAGEMENT CORP 3.1 0.2 2.9
    AMETEK INC NEW 3.2 0.4 2.8

    As at 31 January 2024

    Fund % Benchmark % Relative %
    DR HORTON INC 0.0 0.5 -0.5
    COPART INC 0.0 0.5 -0.5
    ONEOK INC NEW 0.0 0.4 -0.4
    CONSTELLATION ENERGY CORP 0.0 0.4 -0.4
    FASTENAL CO 0.0 0.4 -0.4
    Distribution Distribution (CPU) Reinvestment price
    30-Jun-23 0.0000 N/A

    Fund ratings3

    Organisation Rating / Recommendation
    Zenith Recommended4
    Lonsec Investment Grade5
    Morningstar Bronze6

    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. Any apparent discrepancies in the numbers are due to rounding.

    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 Zenith 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

    5The Lonsec Rating (assigned March 2023) 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.

    6© 2023 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 September 2023.

    Why this fund

    A largely under-researched asset class, we have more than 180 analysts around the world who help us uncover the next 'future leader'

     

    A fund with exposure to a diverse and exciting array of industries and sectors, with around 4,000 investment opportunities

    Professionally co-managed by our experienced investment experts dedicated to investing in the small-mid global universe

    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.

    More insights

    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. Any apparent discrepancies in the numbers are due to rounding.

    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 Zenith 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

    5The Lonsec Rating (assigned March 2023) 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.

    6© 2023 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 September 2023.