Fact sheet: Fidelity Gbl Hi Yld

Fund information
Fund name
Fidelity Global High Yield A Acc USD
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund managers
  • Peter Khansince 05/03/2012
  • Ian Spreadburysince 01/06/2016
Fund objective
Aims to provide high current income and capital growth. At least 70% invested in high-yielding, sub investment grade bonds of issuers globally. The fund may invest its net assets directly in onshore China bonds listed or traded on any eligiblemarket in China. Has the freedom to invest outside the fund's principal geographies, market sectors, industries orasset 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.Investments are concentrated in a more limited number of bonds and therefore the resultingportfolio will be less diversified.Can invest in bonds issued by governments, companies and other bodies.The types of bonds in which the fund will mainly invest will be subject to high risk and will not berequired to meet a minimum rating standard.Can use derivatives with the aim of risk or cost reduction or to generate additional capital orincome 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 5years. Investment in the fund should be regarded as a long-term investment.
Benchmark
  • The BofA Merrill Lynch Global High Yield Constrained Index Hedged to USD
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
11.2%
1 Year rank in sector
16/77
Sector
FO Fixed Int - Global High Yield
Yield
4.3%
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.
1.71%
Fund size
£254m (£145m 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.
69
Top in this sector
Fund name1 Year
Franklin GblCorpHiYd31.1%
Pioneer SICV-Gbl Hi Yld27%
HSBC GIF Gbl AsBk Hg Yld Bd21.3%
BlueBay Em Mkt HY Crp16.9%
Schroder ISFGbHiIBd16.6%
...more in FO Fixed Int - Global High Yield

Performance snapshot

Holdings snapshot

  • USA49.2%
    Asia Pacific ex Japan10%
    Latin America8.3%
    Money Market6.2%
    Europe5.8%
  • Communications14.1%
    Non-Cyclical Consumer Goods11.9%
    Basic Industries10%
    Cyclical Consumer Goods9%
    Energy8.9%
  • US Fixed Interest49.2%
    Asia Pacific ex Japan Fixed Interest10%
    American Emerging Fixed Interest8.3%
    Global Fixed Interest6.4%
    Money Market6.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.2%4.7%9.9%11.2%14.1%-
Sector0.2%4.5%7.8%8.9%11.2%36.8%
Rank within sector33 / 8335 / 8218 / 8116 / 7719 / 59-
Quartile2nd2nd1st1st2nd
Calendar performance
 YTD - 20162015201420132012
Fund12.3%-2.5%0.7%5.9%-
Sector9.6%-2.5%1.4%5.2%15.5%
Rank within sector17 / 8033 / 7046 / 6332 / 51-
Quartile1st2nd3rd3rd
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.
0.1
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.
1.17
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.
0.23
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%.
5.82
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.
1.7
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.
0.45
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.
0.93
Price movement
52 week high12.96
52 week low10.97
Current bid price-
Current offer price-
Current mid price12.93
Region
1USA49.19%
2Asia Pacific ex Japan9.99%
3Latin America8.28%
4Money Market6.19%
5Europe5.75%
6UK5.49%
7International5.29%
8Canada3.21%
9Germany2.05%
Industry sector
1Communications14.06%
2Non-Cyclical Consumer Goods11.85%
3Basic Industries9.97%
4Cyclical Consumer Goods9.01%
5Energy8.91%
6Capital Goods8.6%
7Banks6.45%
8Money Market6.19%
9Technology5.91%
Asset type
1US Fixed Interest49.19%
2Asia Pacific ex Japan Fixed Interest9.99%
3American Emerging Fixed Interest8.28%
4Global Fixed Interest6.36%
5Money Market6.19%
6European Fixed Interest5.75%
7UK Fixed Interest5.49%
8Canadian Fixed Interest3.21%
9German Fixed Interest2.05%
Individual holdings
1FRONTIER COMMUNICATIONS CORP 10.5% NTS 15/09/22 USD10001.33%
2NAVIENT CORPORATION 5% 26 OCT 20201.25%
3DISH DBS CORP 7.75% BDS 01/07/26 USD10001.18%
4STATS CHIPPAC 8.5% NTS 24/11/20 USD200000REG S1.18%
5TURKEY(REPUBLIC OF) 7.1% BDS 08/03/23 TRY1001.08%
6XPO LOGISTICS INC 5.75% BDS 15/06/21 EUR1000001.08%
7FMG RESOURCES 144A LIFE SR SEC 1ST LIEN 9.75% 03-01-221.06%
8PUMA INTL FINANCING 6.75% NTS 01/02/21 USD1000 REG S1.03%
9SOFTBANK GROUP CORP 6% NTS 30/07/25 USD10001.02%
Management
Fund manager group
Fidelity
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund objective
Aims to provide high current income and capital growth. At least 70% invested in high-yielding, sub investment grade bonds of issuers globally. The fund may invest its net assets directly in onshore China bonds listed or traded on any eligiblemarket in China. Has the freedom to invest outside the fund's principal geographies, market sectors, industries orasset 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.Investments are concentrated in a more limited number of bonds and therefore the resultingportfolio will be less diversified.Can invest in bonds issued by governments, companies and other bodies.The types of bonds in which the fund will mainly invest will be subject to high risk and will not berequired to meet a minimum rating standard.Can use derivatives with the aim of risk or cost reduction or to generate additional capital orincome 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 5years. Investment in the fund should be regarded as a long-term investment.
Benchmark
  • The BofA Merrill Lynch Global High Yield Constrained Index Hedged to USD
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Peter Khan05/03/2012Peter 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.
Ian Spreadbury01/06/2016Ian 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, MAS Unrestricted Scheme
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Czech Republic, Germany, Denmark, Spain, Finland, France, United Kingdom, Guernsey, Hungary, Ireland, Iceland, Italy, Jersey, Republic Of Korea, Luxembourg, Malta, Netherlands, Norway, Offshore, Oman, Poland, Portugal, Qatar, Singapore, Slovakia, Sweden
Fidelity Global High Yield A Acc USD
Initial charge5.25%
Annual charge1.25%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.71%
Total expense ratio (TER)1.69%
Bid price-
Offer price-
Mid price12.93
CurrencyUSD
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0XMF
Fidelity Global High Yield A Hedged Acc CZK
Initial charge3.5%
Annual charge1.25%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.76%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1055
CurrencyCZK
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFNOX
Fidelity Global High Yield A Hedged EUR
Initial charge5.25%
Annual charge1.25%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.73%
Total expense ratio (TER)1.73%
Bid price-
Offer price-
Mid price10.53
CurrencyEUR
Price updated29/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0XMK
Fidelity Global High Yield A Hedged Mincome EUR
Initial charge5.25%
Annual charge1.25%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.72%
Total expense ratio (TER)1.73%
Bid price-
Offer price-
Mid price10.43
CurrencyEUR
Price updated29/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0XML
Fidelity Global High Yield E Acc EUR
Initial charge-
Annual charge1.25%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)2.11%
Total expense ratio (TER)2.08%
Bid price-
Offer price-
Mid price14.27
CurrencyEUR
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code10YO
Fidelity Global High Yield E Hedged Mincome EUR
Initial charge-
Annual charge1.25%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)2.12%
Total expense ratio (TER)2.11%
Bid price-
Offer price-
Mid price10.39
CurrencyEUR
Price updated29/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0XMJ
Fidelity Global High Yield I Hedged EUR
Initial charge1%
Annual charge0.6%
Min single investment£500,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.72%
Total expense ratio (TER)0.75%
Bid price-
Offer price-
Mid price10.58
CurrencyEUR
Price updated29/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code0XMG
Fidelity Global High Yield Y EUR
Initial charge-
Annual charge0.65%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.14%
Total expense ratio (TER)1.09%
Bid price-
Offer price-
Mid price12.65
CurrencyEUR
Price updated29/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code0XMH
Fidelity Global High Yield Y Hedged Mincome EUR
Initial charge-
Annual charge0.65%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.15%
Total expense ratio (TER)1.14%
Bid price-
Offer price-
Mid price10.44
CurrencyEUR
Price updated29/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code0XMI
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