Investment objective
To outperform MSCI World Mid Cap Index (AUD) over the suggested minimum investment time period of seven or more years.
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 31 March 2021
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 mth % | 4.67 | 3.96 | 0.71 |
| 3 mth % | 7.82 | 7.00 | 0.82 |
| 6 mth % | 16.38 | 18.09 | -1.71 |
| Since inception (28/09/20) % pa | 15.20 | 16.03 | -0.83 |
| Timeframe | 1 mth % |
3 mth % |
6 mth % |
Since inception (28/09/20) % pa |
|---|---|---|---|---|
| Fund | 4.67 | 7.82 | 16.38 | 15.20 |
| Benchmark | 3.96 | 7.00 | 18.09 | 16.03 |
| Active return | 0.71 | 0.82 | -1.71 | -0.83 |
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: 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 March 2021
| Total return | Growth | Income | |
|---|---|---|---|
| 1 mth % | 4.67 | 4.67 | - |
| 3 mth % | 7.82 | 7.82 | - |
| 6 mth % | 16.38 | 16.38 | - |
| Since inception (28/09/20) % pa | 15.2 | 15.2 | - |
| 1 mth % |
3 mth % |
6 mth % |
Since inception (28/09/20) % pa |
|
|---|---|---|---|---|
| Total return | 4.67 | 7.82 | 16.38 | 15.2 |
| Growth | 4.67 | 7.82 | 16.38 | 15.2 |
| Income | - | - | - | - |
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: 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 2021
As at 28 February 2021
| % total net assets | |
|---|---|
| MONCLER SPA | 3.3% |
| TECHTRONIC INDUSTRIES CO LTD | 3.3% |
| GALLAGHER (ARTHUR J.) & CO | 3.0% |
| PINTEREST INC | 2.8% |
| CDW CORP | 2.7% |
| AMETEK INC NEW | 2.7% |
| ROKU INC | 2.5% |
| LEIDOS HLDGS INC | 2.5% |
| SANDVIK AB | 2.5% |
| ARISTA NETWORKS INC | 2.4% |
As at 28 February 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| TECHTRONIC INDUSTRIES CO LTD | 3.3 | 0.0 | 3.3 |
| MONCLER SPA | 3.3 | 0.1 | 3.1 |
| GALLAGHER (ARTHUR J.) & CO | 3.0 | 0.3 | 2.8 |
| SANDVIK AB | 2.5 | 0.0 | 2.5 |
| CDW CORP | 2.7 | 0.2 | 2.4 |
As at 28 February 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| FREEPORT MCMORAN INC | 0.0 | 0.5 | -0.5 |
| MODERNA INC | 0.0 | 0.5 | -0.5 |
| ALIGN TECHNOLOGY INC | 0.0 | 0.5 | -0.5 |
| MICROCHIP TECHNOLOGY INC | 0.0 | 0.4 | -0.4 |
| MATCH GROUP INC | 0.0 | 0.4 | -0.4 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 0.0000 | $0.0000 |
Fund downloads
- Fund factsheet(74.15KB)
- Additional information
- Product Disclosure Statement(140.35KB)
- Fund flyer(1.01MB)
- Application form(653.34KB)
Fund ratings4
| Organisation | Rating / Recommendation |
|---|---|
| Zenith | Recommended5 |
Morningstar 2020 Australia Fund Manager of the Year6
From the desk of James Abela & Maroun Younes
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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
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It’s been an eventful start to the year so far in global financial markets - so much for waving goodbye to 2020. The vaccine rollout is progressing nicely in many countries around the world, and there is a sense of optimism around the level of pent-up demand at the consumer level. Governments remain committed to keeping their foot on the accelerator, global liquidity remains high and rates remain low. This all sounds like the perfect recipe for a strong recovery...
2021: The outlook for small to mid-caps
Uncertainty still remains and what this will mean for 2021 is still unclear, but what we do know is that the Future Leaders of 2021 will likely be highly adaptive, sustainable, highly intelligent, long-duration businesses, striving to solve problems in a unique way for the world, despite all the challenges.
The 'Global Future Leaders' of tomorrow
In September we were delighted to announce the launch of the Fidelity Global Future Leaders Fund. Here, James Abela and Maroun Younes provide their inaugural update to share their early experiences and highlight some of the trends shaping tomorrow's global future leaders.
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.