Fidelity Global Long Short Fund

Fidelity Global Long Short Fund
Fund fact sheet Invest now

About this fund

The Fund invests in long and short positions in a portfolio of 70-90 global shares, using an unconstrained, go-anywhere approach. The Fund shorts up to 30% of the book

Uses a contrarian value approach to invest in 'unloved companies' that we believe are mispriced, including distressed businesses or companies in structural or cyclical change

Between 45-55 long positions, with typically long investment time horizons and 25-35 short positions which is more opportunistic

Why this fund

A differentiated contrarian global fund, it can complement other strategies exposed to the broad index,  momentum or growth factors

A experienced portfolio manager, with 10+ years shorting experience, working with a team of dedicated shorting analysts

Leverages Fidelity's global research network, including  180+ research analysts and 400+ investment professionals

What is 'shorting'?

'Shorting' is a unique investment technique. Investment Director, James Hickling, talks through the shorting process, and how PM Dmitry Solomakhin applies it to the Fidelity Global Long Short Fund.

Meet Dmitry Solomakhin: Understand his approach in contrarian investing

Dmitry talks about what drives his passion for investing in contrarian investing and dives into his investment philosophy.

Key facts

Unit prices (at 05/12/24)
Buy 10.1579 / Sell 10.1173
Unit price history
Buy/sell spread
0.20% /0.20%

At a glance

Objective
To achieve returns in excess of the Performance Benchmark over the medium to long term.
Benchmark
MSCI All Country World Index NR (ACWI)
Management costs1
0.90%
Performance fee2
20% outperformance (net of management fees) relative to the performance benchmark returnSee PDS for further details.
Fund size (at 05/12/24)
A$17.08M
Inception date
24 October 2023
Distribution frequency
The Fund may pay distributions annually.
Currency
AUD

Unique identifiers

APIR code
FID9021AU
ARSN code
669 400 515

Fund manager

Dmitry Solomakhin
London

Performance3

Chart as at: 30 November 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 All Country World Index NR (ACWI). 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 30 November 2024

Timeframe 1 yr
%
3 yr
% pa
5 yr
% pa
Since inception
(24/10/23) % pa
Fund 4.08 - - 6.28
Benchmark 28.36 - - 29.44
Active return -24.28 - - -23.16

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 (ACWI). 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 November 2024

1 yr
%
3 yr
% pa
5 yr
% pa
Since inception
(24/10/23) % pa
Total return 4.08 - - 6.28
Growth -3.83 - - -1.06
Income 7.91 - - 7.34

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 (ACWI). 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.

DistributionDistribution (CPU)Reinvestment price
30-Jun-2484.0576$10.2239

Sectors and holdings

As at 31 October 2024

As at 31 October 2024

As at 31 October 2024

% total net assets
ERICSSON 5.4%
BABCOCK INTL GROUP PLC 5.3%
ROLLS-ROYCE HOLDINGS PLC 5.2%
AGNICO EAGLE MINES LTD 4.9%
GOLAR LNG LTD 4.7%
HAPVIDA PARTICIPACOES E INVESTIMENTOS SA 4.4%
ALIBABA GROUP HOLDING LTD 4.2%
BAKER HUGHES CO 4.1%
DANONE SA 3.9%
TGS ASA 3.6%

Fund ratings4

Organisation Rating / Recommendation
Lonsec Recommended5
Zenith Recommended6

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. 

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 Lonsec Rating (assigned May 2024) 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.

6Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned November 2024) 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