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
Fund performance2
Net returns as at 30 November 2018
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | 2.10 | 1.20 | 0.90 |
| 3 yr % pa | 10.23 | 8.87 | 1.36 |
| 5 yr % pa | 18.05 | 13.80 | 4.25 |
| 7 yr % pa | 16.36 | 13.08 | 3.28 |
| 10 yr % pa | 14.21 | 10.43 | 3.78 |
| Since inception (29/09/05) % pa | 9.84 | 8.29 | 1.55 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
Since inception (29/09/05) % pa |
|---|---|---|---|---|---|---|
| Fund | 2.10 | 10.23 | 18.05 | 16.36 | 14.21 | 9.84 |
| Benchmark | 1.20 | 8.87 | 13.80 | 13.08 | 10.43 | 8.29 |
| Active return | 0.90 | 1.36 | 4.25 | 3.28 | 3.78 | 1.55 |
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.
Chart as at: 30 November 2018
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 2018
As at 31 October 2018
| % total net assets | |
|---|---|
| RELIANCE INDUSTRIES LTD | 8.6% |
| HOUSING DEV FINANCE CORP LTD | 7.9% |
| HDFC BANK LTD | 6.1% |
| TATA CONSULTANCY SERVICES LTD | 5.7% |
| INFOSYS LTD | 4.8% |
| ICICI BANK LTD | 4.3% |
| ITC LTD | 4.0% |
| MARUTI SUZUKI INDIA LTD | 3.1% |
| LARSEN & TOUBRO LTD | 3.1% |
| MAHINDRA & MAHINDRA LTD | 2.9% |
As at 31 October 2018
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| HDFC BANK LTD | 6.1 | 0.0 | 6.1 |
| HINDUSTAN OIL EXPLORATN CO LTD | 1.6 | 0.0 | 1.6 |
| ICICI BANK LTD | 4.3 | 2.8 | 1.6 |
| KOTAK MAHINDRA BANK LTD | 1.5 | 0.0 | 1.5 |
| BATA INDIA LTD | 1.3 | 0.0 | 1.3 |
As at 31 October 2018
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| INFOSYS LTD | 4.8 | 7.9 | - 3.1 |
| HCL TECHNOLOGIES LTD | 0.0 | 1.9 | - 1.9 |
| HINDUSTAN UNILEVER LTD | 1.6 | 3.5 | - 1.9 |
| SUN PHARMACEUTICAL IND LTD | 0.0 | 1.6 | - 1.6 |
| BAJAJ FINANCE LTD | 0.0 | 1.4 | - 1.4 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 30-Jun-18 | 0.000000 | $33.4918 |
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.
Related insights
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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.
2The returns shown have been calculated using the net asset value of the Fund from one period to the next. The returns include any re-invested distributions and are after fees and expenses. 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. For periods greater than one year returns have been annualised.
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 twelve year track record.
Investing in India
India is very attractively placed in today's low growth environment. Medha Samant, Investment Director, discusses the changing demographic and structural drivers of growth in the country, and how from a portfolio perspective India can drive income for investors.
Related insights
It's a question of quality
Sandeep Kothari explains why picking high-quality growth stocks and stringent risk management are integral when investing in India. He also shares some of the key contributors and detractors to fund performance over his tenure.
India remains strong despite falling rupee
India has been wrestling with higher oil inflation and a strengthening US dollar leading to the rupee selling off and bond yields rising but in the long-term, the positives still outweigh the negatives.
Only looking at indices in Asia? You may be missing a trick...
The Asian growth story continues to be a vibrant and fast-moving one. But looking at just the broad indices covering the region means that investors are missing out.
The spectacular rise of Asia
The ascendance of Asia since the start of this century has been nothing short of remarkable. These charts capture the sheer scale of the region's dominance. A growing middle class, higher spending power and increased investment on infrastructure and technology are among the drivers shifting the balance of economic power from the West to the East.
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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.
2The returns shown have been calculated using the net asset value of the Fund from one period to the next. The returns include any re-invested distributions and are after fees and expenses. 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. For periods greater than one year returns have been annualised.