Fact sheet: Fidelity Em Mkt Loc Cur Dt

Fund information
Fund name
Fidelity Emerging Market Local Currency Debt A Acc USD
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund managers
  • Steve Ellissince 12/04/2013
  • Eric Wongsince 12/04/2013
Fund objective
The fund aims to achieve income and capital appreciation through primarily investing in investment grade and sub investment grade global emerging-markets debt securities and cash denominated in local currency. The fund may also invest in global emerging-market debt instruments denominated in non local currency. Up to 25% of the assets of the fund may be invested in corporate bonds of emerging market issuers. Investments will be made within, although not limited to, Latin America, South East Asia, Africa, Eastern Europe (including Russia) and the Middle East. The fund may invest its net assets directly in onshore China fixed income securities listed or traded on any Eligible Market in China.
Benchmark
  • JPM GBI EM Global Diversified
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
17%
1 Year rank in sector
48/201
Sector
FO Fixed Int - Emerging Markets
Yield
4.5%
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.
1.75%
Fund size
£89m (£70m 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.
89
Top in this sector
Fund name1 Year
UBS (L)BdSIC-Brazil$56.8%
Pictet Lat Am Lcl Cur Dt44%
Old Mutual Em Mt Dt38.4%
SEI Emg Mkts Dt37.7%
Aviva Investors Emg Mkts Bd37.7%
...more in FO Fixed Int - Emerging Markets

Performance snapshot

Holdings snapshot

  • Global Emerging Markets94.5%
    Money Market5.5%
  • BBB50.1%
    A20.5%
    BB17.7%
    Money Market5.5%
    Non-Rated4.1%
  • Global Emerging Market Fixed Interest94.5%
    Money Market5.5%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1%2.9%8.1%17%-10.8%-
Sector0.4%4%8.6%13.7%3.8%14.1%
Rank within sector53 / 213138 / 210115 / 20748 / 201136 / 162-
Quartile1st3rd3rd1st4th
Calendar performance
 YTD - 20162015201420132012
Fund16.2%-17.2%-5%--
Sector13.2%-7.3%-0.6%-7%14.7%
Rank within sector46 / 205181 / 194128 / 170--
Quartile1st4th4th
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.
-5.6
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.
1.49
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.
-0.01
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%.
11.79
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.
5.19
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.
-0.94
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.
0.9
Price movement
52 week high8.18
52 week low6.67
Current bid price-
Current offer price-
Current mid price8.05
Region
1Global Emerging Markets94.51%
2Money Market5.49%
Industry sector
1BBB50.1%
2A20.46%
3BB17.72%
4Money Market5.49%
5Non-Rated4.07%
6B1.88%
7Others0.28%
Asset type
1Global Emerging Market Fixed Interest94.51%
2Money Market5.49%
Individual holdings
1COLOMBIA(REPUBLIC OF) 10% BDS 24/07/24 COP1000008.19%
2SOUTH AFRICA(REPUBLIC OF) 7% BDS 28/02/31 ZAR17.64%
3BRAZIL(FEDERATIVE REPUBLIC OF) 10% BDS 01/01/17 BRL10005.5%
4REP OF INDONESIA 8.38% BDS 15/03/24 IDR10000005.42%
5BRAZIL(FEDERATIVE REPUBLIC OF) 10% BDS 01/01/25 BRL10005.24%
6PETROLEOS MEXICANOS 7.19% BDS 12/09/24 MXN100 REGS5.01%
7INDONESIA(REPUBLIC OF) 5.625% BDS 15/05/23 IDR10000004.65%
8RUSSIAN FEDERATION MINISTRY FINANCE 7% BDS 16/08/23 RUB10004.31%
9POLAND(STATE TREASURY OF) 4.0% BDS 25/10/23 PLN10003.19%
Management
Fund manager group
Fidelity
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund objective
The fund aims to achieve income and capital appreciation through primarily investing in investment grade and sub investment grade global emerging-markets debt securities and cash denominated in local currency. The fund may also invest in global emerging-market debt instruments denominated in non local currency. Up to 25% of the assets of the fund may be invested in corporate bonds of emerging market issuers. Investments will be made within, although not limited to, Latin America, South East Asia, Africa, Eastern Europe (including Russia) and the Middle East. The fund may invest its net assets directly in onshore China fixed income securities listed or traded on any Eligible Market in China.
Benchmark
  • JPM GBI EM Global Diversified
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Steve Ellis12/04/2013Steve 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 Wong12/04/2013Eric 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, 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, Hungary, Ireland, Iceland, Italy, Republic Of Korea, Luxembourg, Netherlands, Norway, Offshore, Oman, Poland, Portugal, Qatar, Slovakia, Sweden
Fidelity Emerging Market Local Currency 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)1.75%
Total expense ratio (TER)1.75%
Bid price-
Offer price-
Mid price8.052
CurrencyUSD
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF7ON
Fidelity Emerging Market Local Currency Debt A MDis EUR
Initial charge5.25%
Annual charge1.2%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.73%
Total expense ratio (TER)1.75%
Bid price-
Offer price-
Mid price8.111
CurrencyEUR
Price updated29/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF7OP
Fidelity Emerging Market Local Currency Debt A QDis EUR
Initial charge-
Annual charge0.6%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.14%
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price8.154
CurrencyEUR
Price updated29/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF7OR
Fidelity Emerging Market Local Currency Debt E MDis EUR
Initial charge-
Annual charge1.2%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.14%
Total expense ratio (TER)2.15%
Bid price-
Offer price-
Mid price8.113
CurrencyEUR
Price updated29/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF7OS
Fidelity Emerging Market Local Currency Debt I USD
Initial charge1%
Annual charge0.7%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.84%
Total expense ratio (TER)0.91%
Bid price-
Offer price-
Mid price7.059
CurrencyUSD
Price updated29/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeF7OU
Fidelity Emerging Market Local Currency 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)1.15%
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price8.223
CurrencyUSD
Price updated29/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF7OT
Data provided by

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