Fact sheet: Fidelity Flexible Bond

Fund information
Fund name
Fidelity Flexible Bond Y GBP
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund managers
  • Timothy Fostersince 16/02/2016
  • Claudio Ferraresesince 01/04/2017
  • Ian Spreadburysince 01/06/1995
Fund objective
Aims to provide income and capital growth. At least 70% invested in a broad range of fixed income instruments of issuers globally either denominated in Sterling or other currencies. Exposure to non-Sterling denominated debt securities will be largely hedged back to Sterling. Has the freedom to invest in any geographies, market sectors, industries. Up to 50% may be invested in high-yielding, lower quality bonds which will not be required to meet minimum rating standards. May invest in units of other investment funds. 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. May invest in assets directly or achieve exposure indirectly through other eligible means including derivatives. Can use derivatives with the aim of risk or cost reduction or to generate additional capital or income, including for investment purposes, 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. The Reference Currency of the fund is hedged to the Share class principal dealing currency with the objective of minimising variability in Net Asset Value per Share returns arising from exchange rate movements between the two currencies. 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
  • BofA Merrill Lynch Sterling Large Cap
Investment style
Strategic Investment
Investment method
Fixed Interest
Quick stats
1 Year return
5%
1 Year rank in sector
12/16
Sector
FO Fixed Int - GBP
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.
0.76%
Fund size
£223m (£179m 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.
31
Top in this sector
Fund name1 Year
Royal London Stg ExYdBd16.8%
Capital International Strl RolUp10.2%
GS Sterling Cr Prtf9.7%
Wellington Stg Core Bd Plus8.4%
UBAM Sterling Bond8.2%
...more in FO Fixed Int - GBP

Performance snapshot

Holdings snapshot

  • UK47.6%
    USA12.7%
    International7.1%
    Latin America6.7%
    Australasia5.2%
  • Government Bonds32%
    Mortgage & Secured Bonds17.4%
    Utilities10.3%
    Others7.9%
    Technology4.8%
  • UK Fixed Interest47.6%
    US Fixed Interest12.7%
    Global Fixed Interest6.8%
    American Emerging Fixed Interest6.7%
    Asia Pacific Fixed Interest5.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.6%1.5%0%5%21.1%-
Sector0.6%2.5%1.2%8%18.8%29.4%
Rank within sector11 / 1813 / 1817 / 1812 / 164 / 16-
Quartile3rd3rd4th3rd1st
Calendar performance
 YTD - 20172016201520142013
Fund1.7%10.1%-1.3%13.3%-
Sector1.6%8.7%0.3%10.4%-0.4%
Rank within sector9 / 182 / 1513 / 154 / 16-
Quartile2nd1st4th1st
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.
0.73
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
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.
0.57
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%.
5.78
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.
2.96
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.
0.24
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.
0.74
Price movement
52 week high1.1
52 week low1.05
Current bid price-
Current offer price-
Current mid price1.07
Region
1UK47.64%
2USA12.66%
3International7.1%
4Latin America6.66%
5Australasia5.2%
6Europe4.9%
7Canada3.99%
8France3.57%
9Money Market3.27%
Industry sector
1Government Bonds31.98%
2Mortgage & Secured Bonds17.35%
3Utilities10.31%
4Others7.93%
5Technology4.76%
6Insurance4.59%
7Energy4.55%
8Money Market3.27%
9Property2.9%
Asset type
1UK Fixed Interest47.64%
2US Fixed Interest12.66%
3Global Fixed Interest6.76%
4American Emerging Fixed Interest6.66%
5Asia Pacific Fixed Interest5.2%
6European Fixed Interest4.9%
7Canadian Fixed Interest3.99%
8French Fixed Interest3.57%
9Money Market3.27%
Individual holdings
No data available.
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 a broad range of fixed income instruments of issuers globally either denominated in Sterling or other currencies. Exposure to non-Sterling denominated debt securities will be largely hedged back to Sterling. Has the freedom to invest in any geographies, market sectors, industries. Up to 50% may be invested in high-yielding, lower quality bonds which will not be required to meet minimum rating standards. May invest in units of other investment funds. 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. May invest in assets directly or achieve exposure indirectly through other eligible means including derivatives. Can use derivatives with the aim of risk or cost reduction or to generate additional capital or income, including for investment purposes, 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. The Reference Currency of the fund is hedged to the Share class principal dealing currency with the objective of minimising variability in Net Asset Value per Share returns arising from exchange rate movements between the two currencies. 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
  • BofA Merrill Lynch Sterling Large Cap
Investment style
Strategic Investment
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Timothy Foster16/02/2016Tim Foster is a Portfolio Manager within Fidelity International’s London-based fixed income team managing various money market and short-term bond funds. Tim joined Fidelity in 2003 as a Quantitative Analyst and progressed to become a Portfolio Manager in 2007. He has a BA MSc in Natural Sciences from Cambridge University and is a CFA Charterholder. He also has a Certificate in Quantitative Finance.
Claudio Ferrarese01/04/2017Claudio Ferrarese is Portfolio Manager of Fidelity’s Global High Grade Income strategy, alongside having Co-Manager responsibility for Fidelity’s Total Return and Absolute Return bond portfolios. Claudio joined Fidelity in 2006 as part of the Quantitative Research team, where his main responsibility was portfolio construction and trade idea generation in credit, rates, FX, structured credit and credit options. Claudio was invited to attend the Portfolio Manager Academy, and became an Assistant Portfolio Manager in 2015, where he was attached primarily to total return and absolute return strategies. In 2016 he was appointed to Co-Portfolio Manager. Prior to joining Fidelity he works as a Structured Finance Analyst at Capitalia Banking Group, Rome. Claudio has an MSc Financial Mathematics from Kings College in London.
Ian Spreadbury01/06/1995Ian Spreadbury is a Senior Portfolio Manager at Fidelity International with 30 years investment experience. Since joining Fidelity in 1995, he has been responsible for managing several of Fidelity's bond strategies. Previously, he worked for Legal and General in various positions including Senior Portfolio Manager (Bonds). Ian has a BSc in Pure & Applied Mathematics from University College of North Wales and an MSc in Mathematical Statistics from University of Sussex. He is also a Fellow of the Institute of Actuaries and is one of the most experienced fixed income managers in the industry.
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, Bahrain, Switzerland, Chile, Czech Republic, Germany, Denmark, Spain, Finland, France, United Kingdom, Guernsey, Hong Kong, Hungary, Ireland, Iceland, Italy, Jersey, Republic Of Korea, Luxembourg, Macau, Malta, Netherlands, Norway, Offshore, Oman, Peru, Poland, Portugal, Qatar, Singapore, Slovakia, Sweden
Fidelity Flexible Bond A Acc EUR
Initial charge3.5%
Annual charge1%
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 price9.98
CurrencyEUR
Price updated26/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE61E
Fidelity Flexible Bond A Acc GBP
Initial charge3.5%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.42%
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price1.727
CurrencyGBP
Price updated26/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeG833
Fidelity Flexible Bond A GBP
Initial charge3.5%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.42%
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price0.34
CurrencyGBP
Price updated26/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFI24
Fidelity Flexible Bond A Hedged Acc EUR
Initial charge3.5%
Annual charge1%
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 price10.71
CurrencyEUR
Price updated26/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE61F
Fidelity Flexible Bond A Hedged EUR
Initial charge3.5%
Annual charge1%
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 price9.874
CurrencyEUR
Price updated26/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeC0TK
Fidelity Flexible Bond E Hedged Acc EUR
Initial charge-
Annual charge1%
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 price10.6
CurrencyEUR
Price updated26/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE61G
Fidelity Flexible Bond E Hedged EUR
Initial charge-
Annual charge1%
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 price10.37
CurrencyEUR
Price updated26/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE61H
Fidelity Flexible Bond I Hedged Acc EUR
Initial charge-
Annual charge0.5%
Min single investment£10,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.11
CurrencyEUR
Price updated26/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeC3KL
Fidelity Flexible Bond Y Acc EUR
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.04
CurrencyEUR
Price updated26/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE61I
Fidelity Flexible Bond Y Acc GBP
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1.115
CurrencyGBP
Price updated26/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFX3L
Fidelity Flexible Bond Y GBP
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.76%
Total expense ratio (TER)0.78%
Bid price-
Offer price-
Mid price1.068
CurrencyGBP
Price updated26/04/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeF7EX
Fidelity Flexible Bond Y Hedged Acc EUR
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.79
CurrencyEUR
Price updated26/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE61J
Fidelity Flexible Bond Y Hedged EUR
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.43
CurrencyEUR
Price updated26/04/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE61K
Fidelity Flexible Bond Y Hedged USD
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.61
CurrencyUSD
Price updated26/04/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE61L
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