Fact sheet: Fidelity Em Mkt Corp Dt

Fund information
Fund name
Fidelity Emerging Market Corporate Debt A Acc USD
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund managers
  • Steve Ellissince 01/04/2014
  • Eric Wongsince 01/04/2014
Fund objective
Aims to provide income and capital growth. At least 70% invested in investment grade and sub investment grade global emerging-markets corporate bonds denominated in major currencies. Up to 25% may be invested in sovereign bonds of emerging market issuers. Emerging markets include Latin America, South East Asia, Africa, Eastern Europe (including Russia) and the Middle East, but investments can also be made in other regions. The fund may invest its net assets directly in onshore China bonds listed or traded on any eligible market in China. 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. Currency hedging is used to substantially reduce the risk of losses from unfavourable exchange rate movements on holdings in currencies that differ from the dealing currency. Hedging also has the effect of limiting the potential for currency gains to be made. 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
  • JPM CEMB Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
10.2%
1 Year rank in sector
138/200
Sector
FO Fixed Int - Emerging Markets
Yield
3.2%
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.
1.68%
Fund size
£72m (£81m 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.
68
Top in this sector
Fund name1 Year
UBS (L)BdSIC-Brazil$53.4%
Pictet Lat Am Lcl Cur Dt42.8%
SEI Emg Mkts Dt35.8%
Old Mutual Em Mt Dt35.6%
Schroder ISF EmgMktBd35.4%
...more in FO Fixed Int - Emerging Markets

Performance snapshot

Holdings snapshot

  • Latin America34.2%
    Asia Pacific ex Japan24.9%
    Europe17.6%
    USA13.2%
    Middle East/ Africa3.8%
  • Banks18.9%
    Government Bonds18.8%
    Communications9.6%
    Money Market9.5%
    Capital Goods8.7%
  • American Emerging Fixed Interest34.2%
    Asia Pacific ex Japan Fixed Interest24.9%
    European Fixed Interest17.6%
    US Fixed Interest13.2%
    Middle East & African Fixed Interest3.8%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-3.9%8.3%10.2%19.3%-
Sector-0.4%4.7%7.6%11.2%2.4%13.2%
Rank within sector78 / 213127 / 21077 / 207138 / 20031 / 160-
Quartile2nd3rd2nd3rd1st
Calendar performance
 YTD - 20162015201420132012
Fund12%-1.3%5.7%--
Sector12.8%-7.3%-0.6%-7%14.7%
Rank within sector131 / 20562 / 19433 / 170--
Quartile3rd2nd1st
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.
5.34
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.
0.58
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.
0.6
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%.
5.22
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.
4.25
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.
1.05
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.
0.7
Price movement
52 week high11.54
52 week low10.03
Current bid price-
Current offer price-
Current mid price11.51
Region
1Latin America34.22%
2Asia Pacific ex Japan24.89%
3Europe17.63%
4USA13.24%
5Middle East/ Africa3.83%
6International2.7%
7Japan1.09%
8UK1.02%
9Australasia0.6%
Industry sector
1Banks18.91%
2Government Bonds18.76%
3Communications9.56%
4Money Market9.45%
5Capital Goods8.72%
6Basic Industries7.79%
7Non-Cyclical Consumer Goods5.84%
8Utilities4.99%
9Cyclical Consumer Goods4.59%
Asset type
1American Emerging Fixed Interest34.22%
2Asia Pacific ex Japan Fixed Interest24.89%
3European Fixed Interest17.63%
4US Fixed Interest13.24%
5Middle East & African Fixed Interest3.83%
6Global Fixed Interest3.21%
7Japanese Fixed Interest1.09%
8UK Fixed Interest1.02%
9Asia Pacific Fixed Interest0.6%
Individual holdings
1FIDELITY INSTITUTIONAL LIQUIDITY USD A ACC4.75%
2MARFRIG HLDGS EUROPE BV 8% BDS 08/06/23 USD2000003.23%
3RIZAL COMMERCIAL BANKING CORP 3.45% BDS 02/02/21 USD1250002.55%
4SCF CAPITAL LTD 5.375% BDS 16/06/23 USD2000002.48%
5ELDORADO INTL FIN GMBH 8.625% BDS 16/06/21 USD200000REG S2.34%
6TENGIZCHEVROIL FIN CO INTL LTD 4% BDS 15/08/26 USD2000002.04%
7TURKIYE VAKIFLAR BANKASI TAO 6.875% BDS 03/02/25 USD2000001.65%
8SUZANO TRADING LTD 5.875% BDS 23/01/21 USD100000`REG S`1.56%
9HKT CAPITAL NO 4 LTD 3% NTS 14/07/26 USD2000001.55%
Management
Fund manager group
Fidelity
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund objective
Aims to provide income and capital growth. At least 70% invested in investment grade and sub investment grade global emerging-markets corporate bonds denominated in major currencies. Up to 25% may be invested in sovereign bonds of emerging market issuers. Emerging markets include Latin America, South East Asia, Africa, Eastern Europe (including Russia) and the Middle East, but investments can also be made in other regions. The fund may invest its net assets directly in onshore China bonds listed or traded on any eligible market in China. 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. Currency hedging is used to substantially reduce the risk of losses from unfavourable exchange rate movements on holdings in currencies that differ from the dealing currency. Hedging also has the effect of limiting the potential for currency gains to be made. 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
  • JPM CEMB Index
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Steve Ellis01/04/2014Steve is a portfolio manager, based in London. He joined the firm in 2011 and is a partner in the business. Steve specialises in portfolio construction and derivative pricing. From 1996 to 1998 Steve worked for the Reserve Bank of Australia (RBA) as a Senior Bank Analyst and studied the sale programme and leasing of RBA's gold reserves. He has closely studied the global gold-leasing market ever since. He holds a degree in Banking and Finance from Curtin University, Perth and he obtained a Masters in Applied Finance in Sydney before moving to London in 2001. Steve has worked in derivatives markets at international banks in both Sydney and London for over 10 years before launching and managing his own successful multi-strategy gold hedge fund at RAB Capital from 2006 to 2010.
Eric Wong01/04/2014Eric Wong, based in Hong Kong, is the portfolio manager of Fidelity Funds - Asian Bond Fund. He also co-manages a number of emerging market debt funds including the Fidelity Funds - Emerging Market Debt Fund, the Fidelity Funds' Emerging Market Corporate Debt Fund and the Fidelity Funds - Emerging Market Local Currency Fund. He has over 10 years of investment experience, joining Fidelity Worldwide Investment in 2012.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Singapore ILIP, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Czech Republic, Germany, Denmark, Spain, Finland, France, United Kingdom, Hong Kong, Hungary, Ireland, Iceland, Italy, Republic Of Korea, Luxembourg, Macau, Netherlands, Norway, Offshore, Oman, Poland, Portugal, Qatar, Slovakia, Slovenia, Sweden
Fidelity Emerging Market Corporate Debt A Acc USD
Initial charge5.25%
Annual charge1.2%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.68%
Total expense ratio (TER)1.65%
Bid price-
Offer price-
Mid price11.51
CurrencyUSD
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF7BO
Fidelity Emerging Market Corporate Debt A Hedged Acc EUR
Initial charge5.25%
Annual charge1.2%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.74%
Total expense ratio (TER)1.7%
Bid price-
Offer price-
Mid price11.28
CurrencyEUR
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF7BP
Fidelity Emerging Market Corporate Debt A Hedged MDis(G) AUD
Initial charge5.25%
Annual charge1.2%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.49
CurrencyAUD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFX2U
Fidelity Emerging Market Corporate Debt A MInc(G) HKD
Initial charge5.25%
Annual charge1.2%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.49
CurrencyHKD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFX2V
Fidelity Emerging Market Corporate Debt A MInc(G) USD
Initial charge5.25%
Annual charge1.2%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.48
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFX2W
Fidelity Emerging Market Corporate Debt AMDIST Hedged EUR
Initial charge5.25%
Annual charge1.2%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.74%
Total expense ratio (TER)1.7%
Bid price-
Offer price-
Mid price9.965
CurrencyEUR
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF7BR
Fidelity Emerging Market Corporate Debt AMDIST USD
Initial charge5.25%
Annual charge1.2%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.68%
Total expense ratio (TER)1.65%
Bid price-
Offer price-
Mid price10.12
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF7BQ
Fidelity Emerging Market Corporate Debt EMDIST Hedged EUR
Initial charge-
Annual charge1.2%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.12%
Total expense ratio (TER)2.1%
Bid price-
Offer price-
Mid price9.926
CurrencyEUR
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF7BS
Fidelity Emerging Market Corporate Debt EMDIST USD
Initial charge-
Annual charge1.2%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.07%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.46
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFQPO
Fidelity Emerging Market Corporate Debt I USD
Initial charge1%
Annual charge0.7%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.86%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price10.31
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeF7BV
Fidelity Emerging Market Corporate Debt Y Acc USD
Initial charge-
Annual charge0.6%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.08%
Total expense ratio (TER)1.05%
Bid price-
Offer price-
Mid price11.75
CurrencyUSD
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF7BT
Fidelity Emerging Market Corporate Debt YQDIST Hedged EUR
Initial charge-
Annual charge0.6%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.13%
Total expense ratio (TER)1.1%
Bid price-
Offer price-
Mid price9.943
CurrencyEUR
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeF7BU
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.