Fidelity India Fund
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Investment objective

To achieve returns in excess of the MSCI India Index NR over the suggested minimum investment time period of five to seven years.

Invests in a diversified portfolio of typically 50 to 70 Indian companies.

Uses a bottom-up stock selection process that favours high-quality companies with scalable business models and strong management available at reasonable prices.

An investment approach that is risk-aware and places first-hand, detailed research at the core of its decision making. 

Key facts

About this fund
Unit prices (at 09/12/19) Buy 38.5225 / Sell 38.2155 Unit price history
Buy/sell spread 0.40%/0.40%
Management costs1 1.20% p.a. Fee disclosure document
Fund size (at 09/12/19) A$231.69M
Inception date 29 September 2005
Distribution frequency Annually
Currency Australian dollar
Benchmark MSCI India Index NR
About the manager
Portfolio manager Amit Goel
Appointed to fund 31 March 2016
Location Singapore
Joined Fidelity 2006
Unique identifiers
APIR code FID0015AU
ARSN code 093164679
mFund code FIL15

Fund performance2

Net returns as at 30 November 2019

Timeframe Fund Benchmark Active return
1 yr % 14.04 14.25 -0.21
3 yr % pa 14.77 14.15 0.62
5 yr % pa 11.15 8.40 2.75
7 yr % pa 15.82 12.75 3.07
10 yr % pa 10.43 7.25 3.18
Since inception (29/09/05) % pa 10.14 8.70 1.44
Timeframe 1 yr
%
3 yr
% pa
5 yr
% pa
7 yr
% pa
10 yr
% pa
Since inception
(29/09/05) % pa
Fund 14.04 14.77 11.15 15.82 10.43 10.14
Benchmark 14.25 14.15 8.40 12.75 7.25 8.70
Active return -0.21 0.62 2.75 3.07 3.18 1.44

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 India Index NR. 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.

See for yourself how the fund has performed since inception. The chart below represents the value now of $10,000 invested in the Fidelity India Fund in September 2005 compared with $10,000 invested in the MSCI India Index NR.

    Fidelity India Fund
    0
    MSCI India Index NR
    0

    Chart as at: 30 November 2019

    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 India Index NR. 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 2019

    Total return Growth Income
    1 yr % 14.04 14.04 -
    3 yr % pa 14.77 14.77 -
    5 yr % pa 11.15 11.11 0.04
    7 yr % pa 15.82 15.79 0.03
    10 yr % pa 10.43 10.4 0.03
    Since inception (29/09/05) % pa 10.14 10.02 0.12
    1 yr
    %
    3 yr
    % pa
    5 yr
    % pa
    7 yr
    % pa
    10 yr
    % pa
    Since inception
    (29/09/05) % pa
    Total return 14.04 14.77 11.15 15.82 10.43 10.14
    Growth 14.04 14.77 11.11 15.79 10.4 10.02
    Income - - 0.04 0.03 0.03 0.12

    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 India Index NR. 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 October 2019

    As at 31 October 2019

    % total net assets
    RELIANCE INDUSTRIES LTD 9.8%
    HOUSING DEV FINANCE CORP LTD 6.9%
    HDFC BANK LTD 6.0%
    ICICI BANK LTD 5.6%
    AXIS BK LTD 5.1%
    TATA CONSULTANCY SERVICES LTD 5.1%
    INFOSYS LTD 5.0%
    LARSEN & TOUBRO LTD 3.7%
    ITC LTD 3.3%
    MARUTI SUZUKI INDIA LTD 2.7%

    As at 31 October 2019

    Fund % Benchmark % Relative %
    HDFC BANK LTD 6.0 0.0 6.0
    ICICI BANK LTD 5.6 3.1 2.5
    LARSEN & TOUBRO LTD 3.7 2.0 1.8
    GUJARAT GAS LTD 1.5 0.0 1.5
    DLF LIMITED 1.5 0.0 1.5

    As at 31 October 2019

    Fund % Benchmark % Relative %
    HOUSING DEV FINANCE CORP LTD 6.9 9.8 - 2.9
    HINDUSTAN UNILEVER LTD 1.7 4.0 - 2.3
    BHARTI AIRTEL LTD 0.0 2.2 - 2.2
    RELIANCE INDUSTRIES LTD 9.8 11.8 - 2.0
    BAJAJ FINANCE LTD 0.0 2.0 - 2.0
    Distribution Distribution (CPU) Reinvestment price
    28-Jun-19 0.00

    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. 

    Fund ratings3

    Organisation Rating
    Lonsec
    Rated4
    The Lonsec report is only available to financial advisers,
    please contact us for a copy
       

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    This Fund is unhedged and is subject to the risk of fluctuations in international stock markets and currencies. 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. 

    3You 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.

    4The Lonsec Rating (assigned April 2019) 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.

    Why this fund

    Invests in a diverse range of companies in one of the world's fastest growing economies. 

    Our investment approach is risk-aware and places first-hand, detailed research at the core of its decision making.

    A proven thirteen-year track record.

    Fidelity India Fund - Meet Sandeep Kothari

    Sandeep Kothari Portfolio Adviser of Fidelity’s India Fund talks about what the Fund can offer investors, India's growth trajectory over the next couple of years and the importance of strong management.

    More insights

    Related insights

    Get Fidelity insights

    Fidelity Insights is a free, monthly e-newsletter that brings you valuable and distilled investment insights, opinion and education.

    Subscribe 

    This Fund is unhedged and is subject to the risk of fluctuations in international stock markets and currencies. 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. 

    3You 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.

    4The Lonsec Rating (assigned April 2019) 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.