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 30 June 2021
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 mth % | 4.30 | 3.46 | 0.84 |
| 3 mth % | 10.81 | 8.02 | 2.79 |
| 6 mth % | 19.48 | 15.59 | 3.89 |
| Since inception (28/09/20) % pa | 27.65 | 25.34 | 2.31 |
| Timeframe | 1 mth % |
3 mth % |
6 mth % |
Since inception (28/09/20) % pa |
|---|---|---|---|---|
| Fund | 4.30 | 10.81 | 19.48 | 27.65 |
| Benchmark | 3.46 | 8.02 | 15.59 | 25.34 |
| Active return | 0.84 | 2.79 | 3.89 | 2.31 |
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 30 June 2021
| Total return | Growth | Income | |
|---|---|---|---|
| 1 mth % | 4.3 | 4.3 | - |
| 3 mth % | 10.81 | 10.81 | - |
| 6 mth % | 19.48 | 19.48 | - |
| Since inception (28/09/20) % pa | 27.65 | 27.65 | - |
| 1 mth % |
3 mth % |
6 mth % |
Since inception (28/09/20) % pa |
|
|---|---|---|---|---|
| Total return | 4.3 | 10.81 | 19.48 | 27.65 |
| Growth | 4.3 | 10.81 | 19.48 | 27.65 |
| 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 30 June 2021
As at 30 June 2021
| % total net assets | |
|---|---|
| SCIENTIFIC GAMES CORP | 3.4% |
| CHENIERE ENERGY INC | 3.2% |
| SONOVA HLDG AG | 3.2% |
| MONCLER SPA | 3.2% |
| PINTEREST INC | 3.2% |
| TECHTRONIC INDUSTRIES CO LTD | 3.1% |
| GALLAGHER (ARTHUR J.) & CO | 2.9% |
| ARISTA NETWORKS INC | 2.7% |
| AMETEK INC NEW | 2.7% |
| CDW CORP | 2.7% |
As at 30 June 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| SCIENTIFIC GAMES CORP | 3.4 | 0.0 | 3.4 |
| PINTEREST INC | 3.2 | 0.0 | 3.2 |
| TECHTRONIC INDUSTRIES CO LTD | 3.1 | 0.0 | 3.1 |
| MONCLER SPA | 3.2 | 0.1 | 3.1 |
| CHENIERE ENERGY INC | 3.2 | 0.2 | 3.0 |
As at 30 June 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| MARVELL TECHNOLOGY INC | 0.0 | 0.5 | -0.5 |
| MATCH GROUP INC | 0.0 | 0.4 | -0.4 |
| MICROCHIP TECHNOLOGY INC | 0.0 | 0.4 | -0.4 |
| CARRIER GLOBAL CORP | 0.0 | 0.4 | -0.4 |
| PALO ALTO NETWORKS INC | 0.0 | 0.4 | -0.4 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 14.9148 | $12.6159 |
Fund downloads
- Quarterly Top 10 holdings(663.36KB)
- Fund fact sheet(82.63KB)
- Additional information
- Product Disclosure Statement(140.35KB)
- Fund flyer(1.02MB)
- 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
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
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The best description for the financial year of 2020/21 is ‘a tale of two halves.’ The year began with justified despair and fear over the outcomes from Covid-19 and has ended with near euphoria in equity markets
Inflation expectations
I don’t know any better than anyone else whether inflation will turn out to be a genuine problem, but I do know that it’s just about the most important question for us to be asking today.
Ten quality picks from an award winning PM
After more than two decades working in funds management, James Abela has proved himself a force to be reckoned with. The portfolio manager's successful Aussie small and mid-cap strategy saw him take out Morningstar's fund manager of the year award three years running. And now, with a newly launched globally-focused fund under his belt, he's ready to take on the world.
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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.