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
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
'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.
Dmitry talks about what drives his passion for investing in contrarian investing and dives into his investment philosophy.
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.
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 30-Jun-24 | 84.0576 | $10.2239 |
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% |
| 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.
