Fact sheet: Fidelity Euro Short Tm Bd

Fund information
Fund name
Fidelity Euro Short Term Bond A Acc EUR
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund managers
  • David Simnersince 31/03/2014
  • Peter Khansince 01/01/2010
Fund objective
Aims to provide relatively high income with the possibility of capital growth. At least 70% invested in Euro-denominated debt securities focusing on investment grade European fixed-rate bonds with less than five years to maturity. The average duration of the fund’s investments will not exceed three years. Has the freedom to invest up to 30% of its assets in non Euro denominated 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 1-3 Year Euro Broad Market Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
0.8%
1 Year rank in sector
7/30
Sector
FO Fixed Int - EUR Short/ Medium Maturity
Yield
1.6%
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.
0.71%
Fund size
£1,271m (£958m 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.
67
Top in this sector
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Boost Bund 10Y 3x Leverage Dly ETP13.4%
Petercam L Bds EUR HiYldShtTm4.4%
Pictet EUR Sht Trm Hgh Yld3.1%
ECM Short Dur Credit2.3%
Oddo Cmp Eur CrShDur2.2%
...more in FO Fixed Int - EUR Short/ Medium Maturity

Performance snapshot

Holdings snapshot

  • International36.5%
    UK17.4%
    Germany12.1%
    Money Market10.7%
    USA10%
  • Banks40.8%
    Government Bills33.3%
    Money Market10.7%
    Non-Cyclical Consumer Goods4.6%
    Utilities2.5%
  • Global Fixed Interest36.5%
    UK Fixed Interest17.4%
    German Fixed Interest12.1%
    Money Market10.7%
    US Fixed Interest10%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.6%-1%-0.1%0.8%4.9%12.2%
Sector-0.3%-0.7%-0.1%0.6%4.4%12%
Rank within sector27 / 3027 / 3010 / 307 / 308 / 287 / 23
Quartile4th4th2nd1st2nd2nd
Calendar performance
 YTD - 20162015201420132012
Fund1.1%0.5%3.1%0.7%5.6%
Sector0.8%0.2%3.4%1%5.3%
Rank within sector7 / 307 / 296 / 2818 / 2410 / 23
Quartile1st1st1st3rd2nd
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.
1.35
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%.
1.53
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.
0.73
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.
0.14
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.
0.83
Price movement
52 week high25.91
52 week low25.12
Current bid price-
Current offer price-
Current mid price25.63
Region
1International36.52%
2UK17.39%
3Germany12.12%
4Money Market10.65%
5USA10%
6Europe8.17%
7Switzerland4.15%
8Middle East/ Africa1.08%
9Not Specified-0.07%
Industry sector
1Banks40.76%
2Government Bills33.34%
3Money Market10.65%
4Non-Cyclical Consumer Goods4.6%
5Utilities2.53%
6Cyclical Consumer Goods1.85%
7Basic Industries1.8%
8Insurance1.67%
9Government Bonds1.3%
Asset type
1Global Fixed Interest36.45%
2UK Fixed Interest17.39%
3German Fixed Interest12.12%
4Money Market10.65%
5US Fixed Interest10%
6European Fixed Interest8.17%
7Swiss Fixed Interest4.15%
8Middle East & African Fixed Interest1.08%
Individual holdings
1SPAIN(KINGDOM OF) 0.75% BDS 30/07/21 EUR100016.27%
2ITALY(REPUBLIC OF) 0.45% BDS 01/06/21 EUR100012.85%
3FIDELITY INSTITUTIONAL LIQUIDITY EUR A ACC4.83%
4Italy Buoni Poliennali Del Tesoro4.28%
5GOLDMAN SACHS GROUP INC 4.75% NTS 12/10/21 EUR10002.44%
6ABN AMRO BANK NV 2.875% NTS 30/06/25 EUR1000002.3%
7KBC GROEP NV 2.375% BDS 25/11/24 EUR1000002.23%
8NATIONWIDE BUILDING SOCIETY 4.125% MTN 20/03/23 EUR1000002.21%
9CREDIT SUISSE AG FRN 18/09/25 EUR1000002.18%
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 debt securities focusing on investment grade European fixed-rate bonds with less than five years to maturity. The average duration of the fund’s investments will not exceed three years. Has the freedom to invest up to 30% of its assets in non Euro denominated 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 1-3 Year Euro Broad Market Index
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
David Simner31/03/2014David 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.
Peter Khan01/01/2010Peter Khan is portfolio manager of Fidelity Euro Short-Term Bond Fund. Peter joined Fidelity in 2000 as a trader and progressed to become the Head of Trading. He became a portfolio manager in 2009. Prior to Fidelity, he was with Bayerische Hypo-und- Vereinsbank as the head of trading and with Smith Barney Shearson as a Financial Consultant.Peter has been responsible for euro fixed ncome portfolios since 2009. He also co-leads the weekly Euro Bond strategy meeting. Peter is currently responsible for in excess of $US 632 million of fixed income assets under management.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS IV Compliant, UCITS V Compliant, MAS Unrestricted Scheme
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, Singapore, Slovakia, Sweden
Fidelity Euro Short Term Bond A Acc EUR
Initial charge5.25%
Annual charge0.5%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.71%
Total expense ratio (TER)0.72%
Bid price-
Offer price-
Mid price25.6304
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFX12
Fidelity Euro Short Term Bond A Inc EUR
Initial charge5.25%
Annual charge0.5%
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 price9.9059
CurrencyEUR
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeC0TL
Fidelity Euro Short Term Bond D Acc EUR
Initial charge4%
Annual charge0.5%
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 price10.0048
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE8JI
Fidelity Euro Short Term Bond E Acc EUR
Initial charge-
Annual charge0.5%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.86%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price11.9034
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFFWX
Fidelity Euro Short Term Bond I Acc EUR
Initial charge-
Annual charge0.3%
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 price9.9223
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeEATU
Fidelity Euro Short Term 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)0.52%
Total expense ratio (TER)0.52%
Bid price-
Offer price-
Mid price26.3539
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFX13
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