Fact sheet: Fidelity Em Mkt Loc Cur Dt

Fund information
Fund name
Fidelity Emerging Market Local Currency Debt E MDis EUR
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund managers
  • Steve Ellissince 11/04/2013
  • Eric Wongsince 11/04/2013
Fund objective
Aims to provide income and capital growth. At least 70% invested in investment grade and sub investment grade global emerging market bonds and cash denominated in local currency. It may also invest in global emerging market bonds denominated in non local currency. 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. Up to 25% of the assets of the fund may be invested in corporate bonds of emerging market issuers. 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
  • JPM GBI EM Global Diversified
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
5.2%
1 Year rank in sector
119/217
Sector
FO Fixed Int - Emerging Markets
Yield
4%
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.
2.14%
Fund size
£54m (£69m 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.
99
Top in this sector
Fund name1 Year
Rubrics Ind Fxd Inc UCITS32%
UBS (L)BdSIC-Brazil$31.5%
Pictet Lat Am Lcl Cur Dt29.3%
Schroder ISF EmgMktBd29%
Pioneer SICV-Emg Mkt Bd28.1%
...more in FO Fixed Int - Emerging Markets

Performance snapshot

Holdings snapshot

  • Global Emerging Markets88%
    Money Market12%
  • Fixed Interest88%
    Money Market12%
  • Global Emerging Market Fixed Interest88%
    Money Market12%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-3.1%-3%3.8%5.2%6.2%-
Sector-4%-3.9%1.9%5.8%0%5.1%
Rank within sector80 / 22578 / 22448 / 222119 / 21786 / 170-
Quartile2nd2nd1st3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund8.3%-8.2%7.7%--
Sector8%-7.3%-0.6%-7%14.7%
Rank within sector78 / 219138 / 20313 / 173--
Quartile2nd3rd1st
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.
2.39
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.
1.11
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
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%.
10.63
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.
6.77
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.
0.31
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.
0.6
Price movement
52 week high8.36
52 week low7.15
Current bid price-
Current offer price-
Current mid price7.78
Region
1Global Emerging Markets88.04%
2Money Market11.96%
Industry sector
1Fixed Interest88.04%
2Money Market11.96%
Asset type
1Global Emerging Market Fixed Interest88.04%
2Money Market11.96%
Individual holdings
1FIDELITY INSTITUTIONAL LIQUIDITY USD A ACC9.15%
2BRAZIL(FEDERATIVE REPUBLIC OF) FR TB 15/05/21 BRL1000 B8.27%
3SOUTH AFRICA(REPUBLIC OF) 7% BDS 28/02/31 ZAR17.92%
4COLOMBIA(REPUBLIC OF) 10% BDS 24/07/24 COP1000007.52%
5PETROLEOS MEXICANOS 7.19% BDS 12/09/24 MXN100 REGS5.41%
6REP OF INDONESIA 8.38% BDS 15/03/24 IDR10000004.55%
7INDONESIA(REPUBLIC OF) 5.625% BDS 15/05/23 IDR10000004.06%
8RUSSIAN FEDERATION MINISTRY FINANCE 7% BDS 16/08/23 RUB10003.8%
9POLAND(STATE TREASURY OF) 2.5% BDS 25/07/26 PLN10002.62%
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 market bonds and cash denominated in local currency. It may also invest in global emerging market bonds denominated in non local currency. 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. Up to 25% of the assets of the fund may be invested in corporate bonds of emerging market issuers. 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
  • JPM GBI EM Global Diversified
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Steve Ellis11/04/2013Steve 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 Wong11/04/2013Eric 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£1,000
Available in ISANo
Ongoing charge (OCF)1.75%
Total expense ratio (TER)1.75%
Bid price-
Offer price-
Mid price7.438
CurrencyUSD
Price updated05/12/2016
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£1,000
Available in ISANo
Ongoing charge (OCF)1.73%
Total expense ratio (TER)1.75%
Bid price-
Offer price-
Mid price7.775
CurrencyEUR
Price updated05/12/2016
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 price7.808
CurrencyEUR
Price updated05/12/2016
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£1,000
Available in ISANo
Ongoing charge (OCF)2.14%
Total expense ratio (TER)2.15%
Bid price-
Offer price-
Mid price7.776
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF7OS
Fidelity Emerging Market Local Currency Debt I USD
Initial charge1%
Annual charge0.7%
Min single investment£10,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.84%
Total expense ratio (TER)0.91%
Bid price-
Offer price-
Mid price6.532
CurrencyUSD
Price updated05/12/2016
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£1,000
Available in ISANo
Ongoing charge (OCF)1.15%
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price7.605
CurrencyUSD
Price updated05/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF7OT
Data provided by

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