Fact sheet: Fidelity € Corp Bd

Fund information
Fund name
Fidelity Euro Corporate Bond E EUR
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund managers
  • David Simnersince 19/03/2009
Fund objective
Aims to provide relatively high income with the possibility of capital growth. At least 70% invested in Euro denominated corporate bonds. Has the freedom to invest up to 30% of its assets in non Euro denominated debt securities and/or non corporate debt securities. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments may be made in bonds issued in currencies other than the fund’s reference currency. Exposure to currencies may be hedged, for example with currency forward contracts. The reference currency is the currency used for reporting and may be different from the dealing currency. Can invest in bonds issued by governments, companies and other bodies. Can use derivatives with the aim of risk or cost reduction or to generate additional capital or income in line with the fund's risk profile. The fund has discretion in its choices of investments within its objectives and policies. Income is accumulated in the share price. Shares can usually be bought and sold each business day of the fund. This fund may not be appropriate for investors who plan to sell their shares in the fund within 5 years. Investment in the fund should be regarded as a long-term investment.
Benchmark
  • The BofA ML Euro Corporate Cap Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
2.2%
1 Year rank in sector
38/65
Sector
FO Fixed Int - EUR Investment Grade
Yield
1.8%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.41%
Fund size
£591m (£391m last year)
Top in this sector
Fund name1 Year
Capital Group ECorpBdLUX21.3%
Russell IC II Euro FI19.6%
Capital Group EBdFL18.7%
Pimco GIS Euro Income Bond5.2%
SSgA EUrCrex-FinBdInd4.3%
...more in FO Fixed Int - EUR Investment Grade

Performance snapshot

Holdings snapshot

  • UK22.9%
    International16.6%
    USA16%
    Europe13.8%
    France12.4%
  • Banks48.3%
    Insurance12%
    Government Bills11.5%
    Non-Cyclical Consumer Goods7.4%
    Utilities4.7%
  • UK Fixed Interest22.9%
    Global Fixed Interest17.6%
    US Fixed Interest16%
    European Fixed Interest13.8%
    French Fixed Interest12.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-2%-3.1%-0.1%2.2%10.8%-
Sector-1.5%-2.6%-0.1%2.7%12.1%34.7%
Rank within sector56 / 6543 / 6526 / 6538 / 6544 / 62-
Quartile4th3rd2nd3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund2.9%-1.2%8.9%1.7%-
Sector2.8%-0.2%8.9%3.4%15.2%
Rank within sector26 / 6556 / 6432 / 6231 / 53-
Quartile2nd4th3rd3rd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-0.37
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
3.75
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
1.61
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.23
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.81
Price movement
52 week high11.81
52 week low10.97
Current bid price-
Current offer price-
Current mid price11.41
Region
1UK22.89%
2International16.56%
3USA16%
4Europe13.76%
5France12.39%
6Germany8.82%
7Switzerland8.51%
8Middle East/ Africa1.11%
9Others1.11%
Industry sector
1Banks48.34%
2Insurance11.95%
3Government Bills11.48%
4Non-Cyclical Consumer Goods7.37%
5Utilities4.66%
6Basic Industries3.9%
7Capital Goods3.8%
8Cyclical Consumer Goods3.61%
9Communications3.09%
Asset type
1UK Fixed Interest22.89%
2Global Fixed Interest17.62%
3US Fixed Interest16%
4European Fixed Interest13.76%
5French Fixed Interest12.39%
6German Fixed Interest8.82%
7Swiss Fixed Interest8.51%
8Middle East & African Fixed Interest1.11%
9Money Market-1.1%
Individual holdings
1COOPERATIEVE RABOBANK UA 6.875% MTN 19/03/20 EUR10003.17%
2MORGAN STANLEY 1.75% SNR REG NTS 11/03/24 EUR1000002.59%
3FRANCE(GOVT OF) 0.5% BDS 25/05/26 EUR12.56%
4GOLDMAN SACHS GROUP INC 4.75% NTS 12/10/21 EUR10002.5%
5KBC GROUPE SA FRN 11/03/27 EUR1000002.41%
6ALLIANZ FINANCE II BV 5.75% BDS 08/07/41 EUR1000002.23%
7NATIONWIDE BUILDING SOCIETY 4.125% MTN 20/03/23 EUR1000002.2%
8HEIDELBERGCEMENT AG 3% MTN 03/06/24 EUR10002.15%
9ASSICURAZIONI GENERALI SPA 1% NTS 12/12/42 EUR1000002.07%
Management
Fund manager group
Fidelity
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund objective
Aims to provide relatively high income with the possibility of capital growth. At least 70% invested in Euro denominated corporate bonds. Has the freedom to invest up to 30% of its assets in non Euro denominated debt securities and/or non corporate debt securities. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments may be made in bonds issued in currencies other than the fund’s reference currency. Exposure to currencies may be hedged, for example with currency forward contracts. The reference currency is the currency used for reporting and may be different from the dealing currency. Can invest in bonds issued by governments, companies and other bodies. Can use derivatives with the aim of risk or cost reduction or to generate additional capital or income in line with the fund's risk profile. The fund has discretion in its choices of investments within its objectives and policies. Income is accumulated in the share price. Shares can usually be bought and sold each business day of the fund. This fund may not be appropriate for investors who plan to sell their shares in the fund within 5 years. Investment in the fund should be regarded as a long-term investment.
Benchmark
  • The BofA ML Euro Corporate Cap Index
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
David Simner19/03/2009David Simner joined Fidelity in 1996, having previously started in the industry for NatWest Markets in 1995. His first eight years at Fidelity were as a quantitative analyst within the fixed income team and then, in 2004, he became Director of Quantitative Research in London. In 2007, David was promoted to the role of portfolio manager. In addition to being the manager of Fidelity's main European fixed income range since 2009, David has also had responsibility for the global fixed income range since 2007. He also leads the weekly Euro Bond strategy meeting. David is a Chartered Engineer and holds a B.Sc from Imperial College of Science and Technology in London.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Chile, Czech Republic, Germany, Denmark, Spain, Finland, France, United Kingdom, Guernsey, Hong Kong, Hungary, Ireland, Iceland, Italy, Jersey, Luxembourg, Macau, Malta, Netherlands, Norway, Offshore, Oman, Poland, Portugal, Qatar, Slovakia, Sweden, Taiwan - Province Of China
Fidelity Euro Corporate Bond A Acc EUR
Initial charge5.25%
Annual charge0.75%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.01%
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price30.49
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFP34
Fidelity Euro Corporate Bond A EUR
Initial charge5.25%
Annual charge0.75%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.01%
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price11.79
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeN9M4
Fidelity Euro Corporate Bond A Hedged Acc HUF
Initial charge5.25%
Annual charge0.75%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price3176
CurrencyHUF
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE05T
Fidelity Euro Corporate Bond A Mdist EUR
Initial charge5.25%
Annual charge0.75%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.01%
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price11.64
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeN9M3
Fidelity Euro Corporate Bond D Acc EUR
Initial charge4%
Annual charge0.75%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.05
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE8JJ
Fidelity Euro Corporate Bond E EUR
Initial charge-
Annual charge0.75%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.4%
Bid price-
Offer price-
Mid price11.41
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF38Y
Fidelity Euro Corporate Bond E Mdist EUR
Initial charge-
Annual charge0.75%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.4%
Bid price-
Offer price-
Mid price10.71
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF38Z
Fidelity Euro Corporate Bond I Acc EUR
Initial charge-
Annual charge0.4%
Min single investment£500,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.4
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE65C
Fidelity Euro Corporate Bond Y Acc EUR
Initial charge-
Annual charge0.38%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.76%
Total expense ratio (TER)0.75%
Bid price-
Offer price-
Mid price31.59
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFP35
Fidelity Euro Corporate Bond Y Hedged Qdist GBP
Initial charge-
Annual charge1%
Min single investment£1,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price0.998
CurrencyGBP
Price updated05/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeC20L
Fidelity Euro Corporate Bond Y Qdist EUR
Initial charge-
Annual charge0.38%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.76%
Total expense ratio (TER)0.74%
Bid price-
Offer price-
Mid price10.73
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeF39A
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