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 06/12/18) Buy 33.2136 / Sell 32.9490 Unit price history
Buy/sell spread 0.40%/0.40%
Management costs1 1.20% p.a. Fee disclosure document
Fund size (at 06/12/18) A$174.76M
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 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.

    Fidelity India Fund
    0
    MSCI India Index NR
    0

    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. 

    Fund ratings3

    Organisation Rating
    Lonsec
    Rated4
    The Lonsec report is only available to financial advisers,
    please contact us for a copy
    Zenith Recommended5

    Related insights

    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. 

    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 July 2018) 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.

    5The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned October 2017) 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

    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

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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. 

    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 July 2018) 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.

    5The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned October 2017) 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