Fidelity Global Future Leaders Fund
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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

About this fund
Unit prices (at 22/01/21) Buy 11.0647 / Sell 10.9985 Unit price history
Buy/sell spread 0.30%/0.30%
Management fee1 1.10% p.a Fee disclosure document
Performance fee2 20% of the excess return of the Fund above its benchmark. Fee disclosure document
Fund size (at 22/01/21) A$8.18M
Inception date 28 September 2020
Distribution frequency Annually
Currency Australian dollar
Benchmark MSCI World Mid Cap Index (AUD)
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 641 516 476
mFund code FIL43

Fund performance3

Net returns as at 31 December 2020

Timeframe Fund Benchmark Active return
1 mth % 1.45 0.28 1.17
3 mth % 7.94 10.36 -2.42
6 mth % - - -
Since inception (28/09/20) % pa 6.84 8.44 -1.60
Timeframe 1 mth
%
3 mth
%
6 mth
%
Since inception
(28/09/20) % pa
Fund 1.45 7.94 - 6.84
Benchmark 0.28 10.36 - 8.44
Active return 1.17 -2.42 - -1.60

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 December 2020

Total return Growth Income
1 mth % 1.45 1.45 -
3 mth % 7.94 7.94 -
6 mth % - - -
Since inception (28/09/20) % pa 6.84 6.84 -
1 mth
%
3 mth
%
6 mth
%
Since inception
(28/09/20) % pa
Total return 1.45 7.94 - 6.84
Growth 1.45 7.94 - 6.84
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 31 December 2020

As at 31 December 2020

% total net assets
TECHTRONIC INDUSTRIES CO LTD 3.6%
MONCLER SPA 3.5%
GALLAGHER (ARTHUR J.) & CO 3.3%
AMETEK INC NEW 2.9%
ICON PLC 2.9%
NICE LTD 2.8%
LEIDOS HLDGS INC 2.8%
SONOVA HLDG AG 2.8%
TEXAS PACIFIC LAND TRUST 2.7%
VZ HOLDING AG 2.6%

As at 31 December 2020

Fund % Benchmark % Relative %
TECHTRONIC INDUSTRIES CO LTD 3.6 0.0 3.6
MONCLER SPA 3.5 0.1 3.4
GALLAGHER (ARTHUR J.) & CO 3.3 0.3 3.0
ICON PLC 2.9 0.0 2.9
TEXAS PACIFIC LAND TRUST 2.7 0.0 2.7

As at 31 December 2020

Fund % Benchmark % Relative %
ALIGN TECHNOLOGY INC 0.0 0.5 - 0.5
FREEPORT MCMORAN INC 0.0 0.4 - 0.4
MATCH GROUP INC 0.0 0.4 - 0.4
COSTAR GROUP INC 0.0 0.4 - 0.4
MICROCHIP TECHNOLOGY INC 0.0 0.4 - 0.4
Distribution Distribution (CPU) Reinvestment price
30-Sep-20 0.0000 $0.0000

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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James
 

Related 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.  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.

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. 

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

Related 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.  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.

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. 

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.