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Fidelity Funds - Flexible Bond Fund A GBP

富達基金 - 靈活債券基金 A類 英鎊

LU0048620586

Risk Rating: Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Non-dealing HoursComplex

Dealing Information

Secure Transaction

Derivatives knowledge required

HKD4,000.00Min. Subscription

1.00%

HKD4,000.00Min. Subscription

AUD / CHF / HKD / JPY / EUR / GBP / CAD / USD / NZD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

14:00

2020-09-30

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
-0.28%
3 mth
+1.88%
6 mth
+9.74%
1 yr
+6.00%
3 yr
+11.07%
5 yr
+23.84%

Analytical Figures (3 years)

Annualized Return
+3.56%
Annualized Volatility
+4.92%
Sharpe Ratio
+0.60

Fund Information

Fund Houses
FIL Investment Management (Hong Kong) Limited
Launch Date
1990-11-11
Fund Manager
Ian Spreadbury Timothy Foster Claudio Ferrarese
Manager Start Date
Ian Spreadbury (Start Date: 1995-06-01) Timothy Foster (Start Date: 2016-02-16) Claudio Ferrarese (Start Date: 2017-04-01)
Geographical Focus
Global
Asset Class/ Sector
Fixed Income - Investment grade
Risk Rating
Risk Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2020-08-30)
GBP 309,143,226.652
Management Fee
1.00%
Latest Dividend
GBP 0.001600 (2020-08-02)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge required

HKD4,000.00Min. Subscription

1.00%

HKD4,000.00Min. Subscription

AUD / CHF / HKD / JPY / EUR / GBP / CAD / USD / NZD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

14:00

2020-09-30

Dividend Records

Dividend DateDividend Records (GBP)
2020-08-020.001600
2020-04-300.001200
2020-02-020.001200
2019-10-310.001300
2019-07-310.001500
2019-04-300.001800
2019-01-310.002100
2018-10-310.001400
2018-07-310.001800
2018-04-300.002000
2018-01-310.001900
2017-10-310.002000
2017-07-310.002000
2017-04-300.002000
2017-01-310.002300
2016-10-310.002100
2016-07-310.002400
2016-05-010.002500
2016-01-310.001900
2015-11-010.002000
2015-08-020.002200
2015-04-300.002200
2015-02-010.002100
2014-11-020.002300
2014-07-310.002400
2014-04-300.002400
2014-02-020.002400
2013-10-310.002200
2013-07-310.002200
2013-04-300.002200
2013-01-310.002300
2012-10-310.002300
2012-07-310.002300
2012-04-300.002400
2012-01-310.002400
2011-10-310.002500
2011-07-310.002600
2011-05-010.002600
2011-01-310.002400
2010-10-310.002300
2010-08-010.002400
2010-05-020.002700
2010-01-310.002700
2009-11-010.002700
2009-08-020.002800
2009-04-300.002700
2009-02-010.002900
2008-11-020.003100
2008-07-310.003000
2008-04-300.003200
2008-01-310.003300
2007-10-310.003300
2007-07-310.003300
2007-04-300.003300
2007-01-310.003100
2006-10-310.003200
2006-07-310.003400
2006-05-010.003300
2006-04-270.003300
2006-01-310.003500
2005-10-310.003200
2005-07-310.003300
2005-05-010.003300
2005-01-310.003500
2004-10-310.003800
2004-08-010.003700
2004-05-020.003300
2004-02-010.003600
2003-11-020.003700
2003-07-310.003600
2003-05-010.003700
2003-04-300.003700
2003-02-020.004200
2002-10-310.003400
2002-07-310.003700
2002-04-300.003700
2002-01-310.003700
2001-10-310.003700
2001-07-310.003700
2001-04-300.002800
2001-01-310.003200
2000-10-310.003600
2000-07-310.003800
2000-05-010.004000
2000-04-300.004000
2000-01-310.004200
1999-10-310.004000
1999-08-010.004000
1999-05-030.004000
1999-05-020.004000
1999-01-310.004100
1998-11-010.003800
1998-08-020.004900
1998-04-300.004300
1998-02-010.004400
1997-11-020.004400
1997-07-310.004500
1997-04-300.004500
1997-02-020.004400
1996-10-310.004400
1996-07-310.004500
1996-04-300.004500
1996-01-310.004500
1995-10-310.004300
1995-07-310.004900
1995-04-300.004500
1995-01-310.004500
1994-11-020.003700
1994-07-310.004900
1994-05-020.004800
1994-02-010.005000
1993-11-020.004100
1993-10-310.004100
1993-08-010.004900
1993-05-020.005100
1993-01-310.004600
1993-01-030.004600
1992-11-020.005100
1992-08-020.004700
1992-05-040.005900
1992-04-300.005900
1992-03-080.004700
1992-02-100.005100
1992-02-020.006200
1991-10-310.005900
1991-07-310.005400
1991-05-010.005900
1991-01-310.006200

Investment Objective

The fund is a Bond fund and aims to achieve income and capital growth.
At least 70% of the fund's net asset value will be 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.

Nature and Extent of Risks

Investment involves risks. Please refer to the Hong Kong Prospectus for details including the risk factors.
1. Investment Risk
The fund is an investment fund. The fund’s investment portfolio may fall in value and therefore your investment in the fund may suffer losses. There is no assurance that the strategy employed by the fund will be successful and therefore the investment objectives of the fund may not be achieved.
2. Bonds, Debt Instruments & Fixed Income and Credit Risk
The value of bonds, debt instruments and other fixed income instruments will fluctuate depending on market interest rates, the credit quality of the issuer and liquidity considerations. Increase in market interest rates, decline in the credit quality of the issuer and decrease in liquidity will adversely impact the value of these instruments.
Investments may be adversely affected if any of the institutions with which money is deposited suffers insolvency or other financial difficulties (default). Credit risk arises from the uncertainty about the ultimate repayment of principal and interest of bond or other debt instrument investments. In both cases the entire deposit or purchase price of the debt instrument is at risk of loss if there is no recovery after default.
Valuation of the fund’s investments may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the Net Asset Value calculation of the fund.
3. Below Investment Grade/Unrated Securities & High Yielding Debt Instruments
The fund may invest in below investment grade and unrated securities. Below investment grade and unrated securities may be subject to wider fluctuations in yield, wider bid-offer spreads, greater liquidity premium (i.e. lower liquidity) and consequently greater fluctuations in market values and greater credit / default risk than higher rated securities. These fluctuations may affect the value of the fund’s share price to a greater extent than a fund that invests in higher rated securities.
The fund may also invest in high yielding debt instruments where the level of income may be relatively high (compared to investment grade debt securities); however the risk of depreciation and realisation of capital losses on such debt instruments held will be significantly higher than on lower yielding debt instruments. Further, as these instruments are typically rated below investment grade or are unrated, they are often subject to a higher risk of issuer default. The vulnerability to economic cycles is also higher as during economic downturns, these instruments are more volatile than investment grade bonds as investors become more risk averse and default risk rises.
4. Credit rating risk
Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness of the security and/or issuer at all times.
5. Foreign Currency Risk
The fund’s total return and balance sheet can be significantly affected by foreign exchange rate movements where the fund’s assets and income are denominated in currencies other than the base currency of the fund. Also, a class of shares may be designated in a currency other than the base currency of the fund. This means that currency movements and changes in exchange rate controls may significantly affect the value of the fund’s share price.
6. Securitised or Structured Debt Instruments
The fund may invest in securitised or structured debt instruments (collectively referred to as structured products), which may employ leverage causing the price of the instruments to be more volatile. The lack of liquidity may cause the current market price of assets to become disconnected from the underlying assets’ value and consequently funds investing in securitised products may be more susceptible to liquidity risk. The liquidity of a structured product can be less than a regular bond or debt instrument and this may adversely affect either the ability to sell the position or the price at which such a sale is transacted.
7. Mortgage-Related Securities
Generally, rising interest rates tend to extend the duration of fixed rate mortgage-related securities making them more sensitive to changes in interest rates. As a result, in a period of rising interest rates a fund holding mortgage-related securities may exhibit additional volatility (extension risk). In addition, adjustable and fixed rate mortgage-related securities are subject to prepayment risk. When interest rates decline, borrowers may pay off their mortgages sooner than expected. This can reduce the returns of the fund because the fund may have to reinvest that money at the lower prevailing interest rates. In addition investments in securitised products may be less liquid than other securities. The lack of liquidity may cause the current market price of assets to become disconnected from the underlying assets value and consequently funds investing in securitised products may be more susceptible to liquidity risk. The liquidity of a securitised product can be less than a regular bond or debt instrument and this may adversely affect either the ability to sell the position or the price at which such a sale is transacted.
8. European Risk
The fund’s performance will be closely tied to the economic, political, regulatory, geopolitical, market, currency or other conditions in the European Economic Area and could be more volatile than the performance of more geographically diversified funds. In light of the concerns on sovereign credit risk of certain European countries and in particular these countries' fiscal conditions, the fund may be subject to increased liquidity, price, and foreign exchange risk. If there are adverse credit events in certain European countries e.g. downgrade of the sovereign credit rating of a European country or a European financial institution, the performance of the fund could decline significantly and will possibly result in significant loss. Measures taken by the governments of the European countries, central banks and other authorities to address their economic and financial problems may not be effective and such failure may result in further deterioration of these countries’ fiscal conditions.
9. Financial Derivative Instruments
Although the fund will not make extensive use of financial derivative instruments for investment purposes or use complex derivative instruments or strategies to meet the investment objectives of the fund, the use of financial derivative instruments may give rise to leverage, liquidity, counterparty and valuations risks at times. In adverse situations, the fund’s use of derivative instruments may become ineffective and the fund may suffer significant losses.