Fact sheet: Fidelity Core Euro Bond

Fund information
Fund name
Fidelity Core Euro Bond Y Acc EUR
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund managers
  • Rick Patelsince 05/07/2015
  • David Simnersince 09/02/2010
Fund objective
Aims to provide relatively high income with the possibility of capital growth. At least 70% invested into bonds issued in Euro currency. The fund will typically only invest in Euro denominated investment grade government and non-government bonds. 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 Merrill Lynch Euro Large Cap Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
1.8%
1 Year rank in sector
28/65
Sector
FO Fixed Int - EUR Investment Grade
Yield
2%
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.
0.6%
Fund size
£267m (£260m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
74
Top in this sector
Fund name1 Year
Capital Group ECorpBdLUX23%
Russell IC II Euro FI21.8%
Capital Group EBdFL19.9%
Pimco GIS Euro Income Bond4.5%
BlackRock GF Eu Corp Bd3.8%
...more in FO Fixed Int - EUR Investment Grade

Performance snapshot

Holdings snapshot

  • International35.8%
    UK23%
    France14%
    USA9.6%
    Europe7.1%
  • Government Bills46.6%
    Banks30.6%
    Insurance7.4%
    Basic Industries3.1%
    Cyclical Consumer Goods3%
  • Global Fixed Interest35.8%
    UK Fixed Interest23%
    French Fixed Interest14%
    US Fixed Interest9.6%
    European Fixed Interest7.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-2.2%-3.9%-0.6%1.8%16%36.8%
Sector-1.6%-2.6%0%1.9%11.6%35.3%
Rank within sector59 / 6563 / 6544 / 6528 / 658 / 623 / 49
Quartile4th4th3rd2nd1st1st
Calendar performance
 YTD - 20162015201420132012
Fund3.1%0.5%12.8%2.2%12.1%
Sector2.9%-0.2%8.9%3.4%15.2%
Rank within sector24 / 6522 / 648 / 6215 / 5315 / 49
Quartile2nd2nd1st2nd2nd
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.
0.96
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.
1.15
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.
0.67
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%.
3.92
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.
1.39
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.
1.15
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.
0.89
Price movement
52 week high15.02
52 week low13.89
Current bid price-
Current offer price-
Current mid price14.35
Region
1International35.78%
2UK23.04%
3France13.96%
4USA9.58%
5Europe7.09%
6Germany5.44%
7Switzerland4.8%
8Money Market0.3%
9Others0.01%
Industry sector
1Government Bills46.56%
2Banks30.58%
3Insurance7.42%
4Basic Industries3.06%
5Cyclical Consumer Goods3%
6Utilities2.09%
7Non-Cyclical Consumer Goods1.97%
8Communications1.48%
9Capital Goods1.46%
Asset type
1Global Fixed Interest35.79%
2UK Fixed Interest23.04%
3French Fixed Interest13.96%
4US Fixed Interest9.58%
5European Fixed Interest7.09%
6German Fixed Interest5.44%
7Swiss Fixed Interest4.8%
8Money Market0.3%
Individual holdings
1SPAIN(KINGDOM OF) 2.75% BDS 31/10/24 EUR100013.97%
2ITALY(REPUBLIC OF) 4.5% BDS 01/03/24 EUR10009.83%
3IRELAND(REPUBLIC OF) 1% TR BDS 15/05/26 EUR16.54%
4FRANCE OAT 3.25% BDS 25/05/45 EUR12.79%
5FRANCE(GOVT OF) 0.5% BDS 25/05/26 EUR12.79%
6MORGAN STANLEY 1.75% SNR REG NTS 11/03/24 EUR1000002.74%
7ROYAL BANK OF SCOTLAND GROUP PLC 1.625% MTN 25/06/19 EUR1000002.62%
8INTESA SANPAOLO SPA 1.125% BDS 04/03/22 EUR1000002.44%
9NATIONWIDE BUILDING SOCIETY 4.125% MTN 20/03/23 EUR1000002.21%
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 into bonds issued in Euro currency. The fund will typically only invest in Euro denominated investment grade government and non-government bonds. 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 Merrill Lynch Euro Large Cap Index
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Rick Patel05/07/2015The portfolio manager, Rick Patel, joined Fidelity in 2000 as a quantitative analyst, before moving to the Hong Kong office on being promoted to the position of Associate Portfolio Manager in 2005 and later Portfolio Manager in 2007. He moved back to the London office in 2009. Prior to Fidelity, Rick began his career in the industry at Prudential in 1999 where he worked in fixed income research. Rick holds a BA (Hons) in Mathematical Science from Oxford University, as well as a Certification of Quantitative Finance and an Investment Management Certificate (IMC). He is also a Chartered Financial Analyst (CFA).
David Simner09/02/2010David 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
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Chile, Germany, Denmark, Spain, Finland, France, United Kingdom, Guernsey, Ireland, Iceland, Italy, Jersey, Luxembourg, Malta, Netherlands, Norway, Offshore, Oman, Poland, Qatar, Sweden
Fidelity Core Euro Bond MDIST Y EUR
Initial charge-
Annual charge0.3%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.6%
Total expense ratio (TER)0.6%
Bid price-
Offer price-
Mid price11.84
CurrencyEUR
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeIBA6
Fidelity Core Euro Bond Y Acc EUR
Initial charge-
Annual charge0.3%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.6%
Total expense ratio (TER)0.6%
Bid price-
Offer price-
Mid price14.35
CurrencyEUR
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeIBA5
Data provided by

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Moneywise and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.