Fact sheet: Fidelity I Stg Cr + Bd

Fund information
Fund name
Fidelity Institutional Sterling Core Plus Bond
Fund manager company
Fidelity International (FIL In
Fund type
OEIC
Fund managers
  • Ian Fishwicksince 30/08/2016
Fund objective
Aims to provide income and capital growth. Obtains exposure primarily to UK and international government and corporate bonds. May also invest in emerging market debt and high yield securities. The strategy aims to maintain at least 90% of its currency exposure to sterling. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments may be made in relation to bonds issued in currencies other than the fund’s denominated currency. Exposure to currencies may be hedged, for example with currency forward contracts. Can invest in relation to bonds issued by governments, companies and other bodies. The fund may make extensive use of derivatives including complex derivative instruments and strategies which are consistent with achieving the fund’s objective. This may result in “leverage” by which we mean a level of exposure which could expose the fund to the potential of greater gains or losses than would otherwise be the case. The fund has discretion in its choices of investments within its objectives and policies. Income is reinvested in additional shares or paid to shareholders on request. 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
No data available.
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
12.2%
1 Year rank in sector
1/77
Sector
UT Sterling Strategic Bond
Yield
2.6%
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.
0.5%
Fund size
£109m (£141m 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
Mid price
147
Top in this sector
Fund name1 Year
Fidelity I Stg Cr + Bd12.2%
Natixis LS Stgc Inc11.2%
Fidelity UK Inv Grd Lg Cr11.1%
Fidelity Pre-Retirmnt Bd10.1%
Legg Mason IFBrwiGlInOp9.1%
...more in UT Sterling Strategic Bond

Performance snapshot

Holdings snapshot

  • UK65.1%
    USA10%
    Continental Europe4%
    France3.9%
    Europe3.7%
  • Government Bonds39.2%
    Investment Grade Bonds22%
    Financials20.5%
    High Yield Bond10.3%
    Asset/Mortgage-Backed Securities4.1%
  • UK Fixed Interest65.1%
    US Fixed Interest10%
    European Fixed Interest7.6%
    French Fixed Interest3.9%
    German Fixed Interest3.6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-2.3%-10%2.7%12.2%39.1%51.8%
Sector-1%-3%2.3%5.2%12.9%32.2%
Rank within sector79 / 8382 / 8227 / 821 / 771 / 713 / 60
Quartile4th4th2nd1st1st1st
Calendar performance
 YTD - 20162015201420132012
Fund13%-0.3%23.6%-3.9%9.3%
Sector5.9%-0.3%6.8%2.6%12.6%
Rank within sector2 / 7749 / 741 / 7260 / 6446 / 61
Quartile1st3rd1st4th4th
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.
8.11
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.
0.62
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.
0.77
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%.
10.33
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.
9.86
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.
0.55
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.
0.12
Price movement
52 week high164.6
52 week low132.3
Current bid price-
Current offer price-
Current mid price147
Region
1UK65.09%
2USA10.01%
3Continental Europe3.97%
4France3.87%
5Europe3.67%
6Germany3.62%
7Switzerland3.45%
8Japan2.46%
9Latin America1.93%
Industry sector
1Government Bonds39.22%
2Investment Grade Bonds21.98%
3Financials20.49%
4High Yield Bond10.27%
5Asset/Mortgage-Backed Securities4.08%
6Money Market2.5%
7Others1.43%
8Investment Grade Government Bonds1.22%
9Index Linked0.69%
Asset type
1UK Fixed Interest65.09%
2US Fixed Interest10.01%
3European Fixed Interest7.64%
4French Fixed Interest3.87%
5German Fixed Interest3.62%
6Swiss Fixed Interest3.45%
7Japanese Fixed Interest2.46%
8American Emerging Fixed Interest1.93%
9Asia Pacific ex Japan Fixed Interest1.52%
Individual holdings
1TREASURY 3.75% GILT 22/07/52 GBP0.0121.65%
2TREASURY 3.5% GILT 22/07/68 GBP0.0117.52%
3SMFG PREFERRED CAPITAL LTD 10.231% NTS PERP GBP1000 `REGS`1.45%
4BANK OF SCOTLAND PLC 7.281% FXD/FLTG PERP GBP1000 SER`B`REG`S1.42%
5UBS GROUP AG FRN 29/12/49 USD10001.3%
6NATIONAL GRID GAS FINANCE PLC 2.625% INST 22/09/38 GBP1000001.25%
7HSBC HLDGS 6% SUBORD NTS 29/03/40 GBP500001.13%
8BASF SE 0.875% BDS 06/10/23 GBP10001.06%
9E.ON INTERNATIONAL FINANCE 5.875% BDS 30/10/37 GBP500001.04%
Management
Fund manager group
No data available.
Fund manager company
Fidelity International (FIL In
Fund type
OEIC
Fund objective
Aims to provide income and capital growth. Obtains exposure primarily to UK and international government and corporate bonds. May also invest in emerging market debt and high yield securities. The strategy aims to maintain at least 90% of its currency exposure to sterling. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments may be made in relation to bonds issued in currencies other than the fund’s denominated currency. Exposure to currencies may be hedged, for example with currency forward contracts. Can invest in relation to bonds issued by governments, companies and other bodies. The fund may make extensive use of derivatives including complex derivative instruments and strategies which are consistent with achieving the fund’s objective. This may result in “leverage” by which we mean a level of exposure which could expose the fund to the potential of greater gains or losses than would otherwise be the case. The fund has discretion in its choices of investments within its objectives and policies. Income is reinvested in additional shares or paid to shareholders on request. 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
No data available.
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Ian Fishwick30/08/2016Ian Fishwick is responsible for managing Fidelity’s sterling bond strategies including separate accounts for institutional investors. Ian has 29 years of investment experience and has worked for Fidelity for the past 9 years. He has been a portfolio manager for over 25 years. Ian has held a range of senior positions within the asset management industry including: Head of UK Fixed Income at Credit Suisse Asset Management, Chief Investment Officer for Sun Life of Canada’s UK asset management business, Head of Fixed Income for Sun Life of Canada, and Portfolio Manager for Confederation Life. He has a Masters Degree in Natural Sciences from Cambridge University and is a Fellow of the Institute of Actuaries.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Denmark, Finland, France, United Kingdom, Guernsey, Ireland, Netherlands, Norway, Sweden
Fidelity Institutional Sterling Core Plus Bond
Initial charge-
Annual charge0.4%
Min single investment£100,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.5%
Total expense ratio (TER)0.49%
Bid price-
Offer price-
Mid price147
CurrencyGBX
Price updated06/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE431
Fidelity Institutional Sterling Core Plus Bond Gr
Initial charge-
Annual charge0.4%
Min single investment£100,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.5%
Total expense ratio (TER)0.49%
Bid price-
Offer price-
Mid price232.2
CurrencyGBX
Price updated06/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE430
Fidelity Institutional Sterling Core Plus Bond Monthly Gr Acc
Initial charge-
Annual charge0.4%
Min single investment£100,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1142.03
CurrencyGBX
Price updated06/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMUPG
Data provided by

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