Fact sheet: Fidelity SMRT Gbp Defens

Fund information
Fund name
Fidelity SMART Global Defensive A EUR
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund managers
  • Joo Hee Leesince 29/06/2016
  • Eugene Philalithissince 29/06/2016
Fund objective
Aims to provide stable long-term growth. Invests directly or indirectly (including through the use of derivatives) in a wide range of global asset classes and geographies including global government, global inflation-linked, global corporate, investment grade, global high yield and emerging market bonds, as well as shares of companies globally, based on their potential to generate moderate capital growth or reduce risk or fluctuation within the overall portfolio. Up to 40% may be invested directly or indirectly (including through the use of derivatives) in shares of companies. Up to 100% may be invested directly or indirectly (including through the use of derivatives) in government bonds, corporate, inflation linked and emerging market bonds. These may comprise global high yield bonds up to 40% of the fund’s assets and hybrid bonds (Hybrids) up to 10% of the fund's assets. Corporate Hybrids are highly subordinated debt securities which carry equity-like features, such as coupon payments that may be deferred or cancelled at the discretion of the issuer, and are typically the last to be paid in the event of insolvency. Up to 30% may be invested directly or indirectly (including through the use of derivatives) in infrastructure securities, commodities and real estate investment trusts (REITS). Any commodity exposure will be obtained indirectly through eligible instruments or derivatives. May invest in units of other investment funds. Aims to manage the long term average volatility under normal market conditions within a range of 2 to 5% per annum. The fund may make extensive use of derivatives or use complex derivatives to meet its investment objectives in line with the fund's risk profile. Can use derivatives, including but not limited to, currency derivatives, index futures, options, credit default swaps, interest rate swaps, contracts for difference and covered called options, to achieve indirect exposure to the main assets listed above, to generate additional capital or income in line with the fund's risk profile or with the aim of risk or cost reduction. In adverse market conditions the fund may hold more than 10% of its assets in cash, Money Market Instruments and money market funds. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Can invest in bonds issued by governments, companies and other bodies. 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
No data available.
Investment style
Balanced
Investment method
None
Quick stats
1 Year return
2.2%
1 Year rank in sector
81/134
Sector
FO Mixed Asset - Balanced
Yield
-
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.
1.93%
Fund size
£303m (£364m 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.
65
Top in this sector
Fund name1 Year
Templeton Emg Mkts Bal35.1%
Capital Group EMTOpL27.8%
HSBC Pfl World Seltn 325.2%
Oasis Crs Gbl Low EqBal21.1%
Dimensional Wrld Alloc 60/4020%
...more in FO Mixed Asset - Balanced

Performance snapshot

Holdings snapshot

  • International57.6%
    Europe26.7%
    North America12.9%
    Japan2.1%
    Pacific ex-Japan0.8%
  • Fixed Interest57.6%
    Equities42.6%
  • Global Fixed Interest57.6%
    European Equities26.7%
    North American Equities12.9%
    Japanese Equities2.1%
    Asia Pacific ex Japan Equities0.8%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund3.3%4.2%2.2%2.2%19.3%48.9%
Sector0.4%-0.6%3%3.6%9.9%25.8%
Rank within sector1 / 1435 / 14369 / 13681 / 13414 / 11410 / 89
Quartile1st1st3rd3rd1st1st
Calendar performance
 YTD - 20162015201420132012
Fund2.7%3.5%11%9.3%13.5%
Sector4.2%-0.3%4.7%7.5%7.6%
Rank within sector81 / 13320 / 1249 / 11338 / 1029 / 88
Quartile3rd1st1st2nd1st
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.
3.35
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.
0.87
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.
0.34
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%.
6.54
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.
4.45
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.
0.66
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.
0.54
Price movement
52 week high12.66
52 week low11.48
Current bid price-
Current offer price-
Current mid price12.63
Region
1International57.6%
2Europe26.7%
3North America12.9%
4Japan2.1%
5Pacific ex-Japan0.8%
Industry sector
1Fixed Interest57.6%
2Equities42.6%
Asset type
1Global Fixed Interest57.6%
2European Equities26.7%
3North American Equities12.9%
4Japanese Equities2.1%
5Asia Pacific ex Japan Equities0.8%
Individual holdings
1UNITED STATES OF AMER TREAS NOTES 0.125% TB 15/07/24 USD10004.71%
2FIDELITY INSTITUTIONAL LIQUIDITY USD A ACC2.18%
3GERMANY(FEDERAL REPUBLIC OF) 0.1% BDS 15/04/23 EUR0.012.04%
4SSGA SPDR S&P US DIVIDEND ARISTOCRATS UCITS ETF GBP1.95%
5ITALY(REPUBLIC OF) 2.35% BDS 15/09/24 EUR10001.78%
6GERMANY(FEDERAL REPUBLIC) 1.75% ILN 15/04/20 EUR0.011.73%
7TREASURY 1.875% IDX LKD GILT 22/11/22 GBP1.21%
8UNITED STATES OF AMER TREAS NOTES 0.25% TB 15/01/25 USD10001.2%
9AUSTRALIA(COMMONWEALTH OF) ILN 20/09/25(CONSUMER PRICE IDX)AUD10001.08%
Management
Fund manager group
Fidelity
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund objective
Aims to provide stable long-term growth. Invests directly or indirectly (including through the use of derivatives) in a wide range of global asset classes and geographies including global government, global inflation-linked, global corporate, investment grade, global high yield and emerging market bonds, as well as shares of companies globally, based on their potential to generate moderate capital growth or reduce risk or fluctuation within the overall portfolio. Up to 40% may be invested directly or indirectly (including through the use of derivatives) in shares of companies. Up to 100% may be invested directly or indirectly (including through the use of derivatives) in government bonds, corporate, inflation linked and emerging market bonds. These may comprise global high yield bonds up to 40% of the fund’s assets and hybrid bonds (Hybrids) up to 10% of the fund's assets. Corporate Hybrids are highly subordinated debt securities which carry equity-like features, such as coupon payments that may be deferred or cancelled at the discretion of the issuer, and are typically the last to be paid in the event of insolvency. Up to 30% may be invested directly or indirectly (including through the use of derivatives) in infrastructure securities, commodities and real estate investment trusts (REITS). Any commodity exposure will be obtained indirectly through eligible instruments or derivatives. May invest in units of other investment funds. Aims to manage the long term average volatility under normal market conditions within a range of 2 to 5% per annum. The fund may make extensive use of derivatives or use complex derivatives to meet its investment objectives in line with the fund's risk profile. Can use derivatives, including but not limited to, currency derivatives, index futures, options, credit default swaps, interest rate swaps, contracts for difference and covered called options, to achieve indirect exposure to the main assets listed above, to generate additional capital or income in line with the fund's risk profile or with the aim of risk or cost reduction. In adverse market conditions the fund may hold more than 10% of its assets in cash, Money Market Instruments and money market funds. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Can invest in bonds issued by governments, companies and other bodies. 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
No data available.
Investment style
Balanced
Investment method
None
Fund managers
NameSinceBiography
Joo Hee Lee29/06/2016Joo Hee is the portfolio manager of a number of Target Funds, denominated in a variety of major currencies. The Target Funds represent $781m of assets under management. She is also the leader of the group's Strategic Asset Allocation Team, responsible for asset class analysis, benchmark design and modelling. Joo Hee joined Fidelity as a Portfolio Manager in 2006. Her prior experience includes the design and co-management of a quantitative fund at Pioneer Investments, and quantitative analysis roles at Russell Investments Group, and Sal. Oppenheim. Joo Hee holds a Ph.D. in Solid State Physics, Cambridge University, and a B.Sc. and M.Sc. in Chemistry. She is CQF qualified and is a CFA charterholder.
Eugene Philalithis29/06/2016Eugene Philalithis joined Fidelity in 2007 as a Portfolio Manager, with a focus on fixed income and alternatives. Eugene manages a number of multi asset funds with internal and open architecture for both retail and institutional clients. He has currently 17 years of investment experience which includes Russell Investment in London and Canadian Imperial Bank of Commerce in Singapore. Eugene has a Bachelor or Engineering and an MBA, both from Imperial College, London.
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, Belgium, Bahrain, Switzerland, Czech Republic, Germany, Denmark, Spain, Finland, France, United Kingdom, Gulf Cooperation Council, Guernsey, Hong Kong, Hungary, Ireland, Iceland, Italy, Jersey, Republic Of Korea, Luxembourg, Netherlands, Norway, New Zealand, Offshore, Oman, Poland, Portugal, Qatar, Singapore, Slovakia, Sweden
Fidelity SMART Global Defensive A Acc EUR
Initial charge5.25%
Annual charge1.15%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.93%
Total expense ratio (TER)1.96%
Bid price-
Offer price-
Mid price14.44
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeD809
Fidelity SMART Global Defensive A Acc USD
Initial charge5.25%
Annual charge1.15%
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 price9.945
CurrencyUSD
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE9YJ
Fidelity SMART Global Defensive A EUR
Initial charge5.25%
Annual charge1.44%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.93%
Total expense ratio (TER)1.96%
Bid price-
Offer price-
Mid price12.63
CurrencyEUR
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFI36
Fidelity SMART Global Defensive A Hedged Acc EUR
Initial charge5.25%
Annual charge1.15%
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 price9.882
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE9YH
Fidelity SMART Global Defensive A Hedged Inc EUR
Initial charge5.25%
Annual charge1.15%
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 price9.877
CurrencyEUR
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE9YI
Fidelity SMART Global Defensive E Hedged Acc EUR
Initial charge-
Annual charge1.15%
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 price9.863
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE9YK
Fidelity SMART Global Defensive Y Acc EUR
Initial charge-
Annual charge0.58%
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 price10.37
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE9YL
Data provided by

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