Investment objective
To provide a steady level of income and positive total returns over the medium to long term.
Aims to deliver investors a steady income stream, with a low sensitivity to changes in interest rates.
As one of the largest fixed income managers in the world, we draw on our rigorous proprietary research to navigate credit markets and invest in our 'best ideas' for income generation.
Actively managed without reference to an index, the Fund has a maximum interest rate duration of three years, an average portfolio quality of investment grade and invests in a diversified range of government and corporate bonds as well as high yield and emerging market debt.
Key facts
Fund performance3
See for yourself how the Fund has performed since inception. The chart below represents the value now of $10,000 invested in the Fidelity Global Low Volatility Equity Fund from the Fund's inception in December 2017 compared with $10,000 invested in the MSCI World Index (N).
Chart as at: 31 March 2024
Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of fees and costs and assume reinvestment of distributions. No allowance has been made for taxation or for any fees charged by operators of master trusts or wrap accounts through which the products are offered. Returns of more than one year are annualised. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. The Fund gains its exposure to global fixed income by investing in an offshore fund managed by one of our related entities (Underlying Fund). The holdings of the Underlying Fund are not selected, managed or measured with reference to any benchmark. The ICE BofA 0-3 Month US Treasury Bill Index AUD Hedged2 is used for reference purposes only and the composition, investment weightings and performance of the Underlying Fund and Fund may differ from this index.
Net returns as at 31 March 2024
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | 8.16 | 3.99 | 4.17 |
| 3 yr % pa | - | - | - |
| 5 yr % pa | - | - | - |
| Since inception (28/07/22) % pa | 5.79 | 3.38 | 2.41 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (28/07/22) % pa |
|---|---|---|---|---|
| Fund | 8.16 | - | - | 5.79 |
| Benchmark | 3.99 | - | - | 3.38 |
| Active return | 4.17 | - | - | 2.41 |
Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of fees and costs and assume reinvestment of distributions. No allowance has been made for taxation or for any fees charged by operators of master trusts or wrap accounts through which the products are offered. Returns of more than one year are annualised. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. The Fund gains its exposure to global fixed income by investing in an offshore fund managed by one of our related entities (Underlying Fund). The holdings of the Underlying Fund are not selected, managed or measured with reference to any benchmark. The ICE BofA 0-3 Month US Treasury Bill Index AUD Hedged2 is used for reference purposes only and the composition, investment weightings and performance of the Underlying Fund and Fund may differ from this index.
Net as at 31 March 2024
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | 8.16 | 3.19 | 4.97 |
| 3 yr % pa | - | - | - |
| 5 yr % pa | - | - | - |
| Since inception (28/07/22) % pa | 5.79 | 1.89 | 3.9 |
| 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (28/07/22) % pa |
|
|---|---|---|---|---|
| Total return | 8.16 | - | - | 5.79 |
| Growth | 3.19 | - | - | 1.89 |
| Income | 4.97 | - | - | 3.9 |
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. Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of fees and costs and assume reinvestment of distributions. No allowance has been made for taxation or for any fees charged by operators of master trusts or wrap accounts through which the products are offered. Returns of more than one year are annualised. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. The Fund gains its exposure to global fixed income by investing in an offshore fund managed by one of our related entities (Underlying Fund). The holdings of the Underlying Fund are not selected, managed or measured with reference to any benchmark. The ICE BofA 0-3 Month US Treasury Bill Index AUD Hedged2 is used for reference purposes only and the composition, investment weightings and performance of the Underlying Fund and Fund may differ from this index.
Sectors, holdings and distributions
As at 31 March 2024
As at 31 March 2024
| % total net assets | |
|---|---|
| RCI BANQUE S 3.75% 10/4/27 RGS | 1.3% |
| AA BOND CO LTD 8.45% 7/50 RGS | 1.2% |
| XPO INC 6.25% 06/01/28 144A | 1.0% |
| ROADSTER FINN 1.625% 12/29 RGS | 1.0% |
| ABERTIS INFRA 3.375% 11/26 RGS | 0.9% |
| CO-OPERATIVE 6%/VAR 04/27 RGS | 0.9% |
| ENERGIA GRP 6.875% 7/28 RGS | 0.9% |
| CEMEX SAB DE 9.125/VR PERP RGS | 0.9% |
| ACLO 23-11X A 3MEUR+170 01/38 | 0.9% |
| MORGAN STANLEY 5.173%/VAR 1/30 | 0.9% |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 28-Mar-24 | 14.0676 | $10.1777 |
CPU = cents per unit. The above cash CPU excludes imputation credits and foreign income tax offsets which are non-cash components and are reported in the end of year tax statement. If the Distribution CPU column is 0.0000 it means that nothing was distributed.
This Fund is subject to various risks, including, but not limited to, the risk of market fluctuations and changes in market interest rates. 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.
2The Fund gains its exposure to global fixed income by investing in an offshore fund managed by one of our related entities (Underlying Fund). The holdings of the Underlying Fund are not selected, managed or measured with reference to any benchmark. The ICE BofA 0-3 Month US Treasury Bill Index AUD Hedged is used for reference purposes only and the composition, investment weightings and performance of the Underlying Fund and Fund may differ from this index.
3Total 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.
Why this fund
A stable and experienced team with over 130 members, located around the world from London to Singapore.
Considers the sustainability of business practices, believing that better environmental, social and governance outcomes aid the delivery of sustainable growth over time.
Actively managed without reference to an index. We look to invest in the best ideas for income generation across the global universe of short duration bonds
This Fund is subject to various risks, including, but not limited to, the risk of market fluctuations and changes in market interest rates. 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.
2The Fund gains its exposure to global fixed income by investing in an offshore fund managed by one of our related entities (Underlying Fund). The holdings of the Underlying Fund are not selected, managed or measured with reference to any benchmark. The ICE BofA 0-3 Month US Treasury Bill Index AUD Hedged is used for reference purposes only and the composition, investment weightings and performance of the Underlying Fund and Fund may differ from this index.
3Total 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.
