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Change to fund name, investment objective and policy – Fidelity Funds Australia

Fidelity Funds ("Fidelity") has announced a change to the fund name, investment objective and policy of its Fidelity Funds Australia Fund (the "Fund") which will take effect 26 October 2021.

Available in our open-architecture products

The Fund features in our open-architecture products and will be subject to changes detailed in the Fidelity notification document opposite.


Available in our defined fund range products

The Fund can be found in our defined fund range products Oracle, Paragon, Quantum, RSP (including Malaysia variants). A summary of the changes to the fund name, investment objective and policy are detailed in the tables below.


You can view a copy of the Fidelity notification document opposite for a detailed breakdown of all the changes.


Current fund name

New fund name

Fidelity Funds Australia A Acc AUD

Fidelity Funds Australian Diversified Equity A Acc AUD


Current investment objective and policy

Revised investment objective and policy

Objective and policy

The Fund invests principally in Australian equity securities.


The Fund is actively managed. The Investment Manager will, when selecting investments for the Fund and for the purposes of monitoring risk, reference S&P ASX 200 Index (the “Index”) as the Index constituents are representative of the type of companies the Fund invests in. The Fund’s performance can be assessed against its Index.


The Investment Manager has a wide range of discretion relative to the Index. While the Fund will hold assets that are components of the Index, it may also invest in companies, countries or sectors that are not included in, and that have different weightings from, the Index in order to take advantage of investment opportunities. It is expected that over long time periods, the Fund’s performance will differ from the Index. However, over short time periods, the Fund’s performance may be close to the Index, depending on market conditions.

Objective and policy

The Fund aims to achieve income and long-term capital growth primarily through investments in Australian equity securities and related instruments. The Fund will invest in a mixture of larger, medium and smaller sized companies.


The Fund may tactically also invest in Australian listed corporate hybrid and fixed income securities if the Investment Manager believes they offer better investment opportunities than the related equity.


The largest ten holdings/securities held in the Fund’s portfolio may account for 50% or more of the Fund’s Net Asset Value, resulting in a reasonably concentrated portfolio.


As well as investing directly in equity and fixed income securities, the Fund will also achieve exposure indirectly through the use of derivatives. To enhance the income of the Fund, derivatives (such as options) may be used to generate additional income. The types of financial derivative instrument that will be used include index, basket or single name futures, options and contracts for difference referencing equities or bonds. Options used will include put and call options including covered call options. The generation of additional income for example, through covered call options may impact the Fund’s potential for capital growth, particularly in periods of rapidly rising markets where capital gains may be lower when compared with an equivalent uncovered portfolio.


The Fund is actively managed. The Investment Manager will, when selecting investments for the Fund and for the purposes of monitoring risk, reference S&P ASX 200 Index (the “Index”) as the Index constituents are representative of the type of companies the Fund invests in. The Fund’s performance can be assessed against its Index.


The Investment Manager has a wide range of discretion relative to the Index. While the Fund will hold assets that are components of the Index, it may also invest in companies, countries or sectors that are not included in, and that have different weightings from, the Index in order to take advantage of investment opportunities. It is expected that over long time periods, the Fund’s performance will differ from the Index. However, over short time periods, the Fund’s performance may be close to the Index, depending on market conditions.



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For more information about Fidelity Funds visit www.fidelity.lu

Notifications

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Applicable to Regular Savings plan, Oracle, Quantum and Paragon (including Malaysia variants)