Fidelity Funds - US High Yield Fund A MDis USD

富達基金 - 美元高收益基金 A類 MDis 美元

LU0168057262

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.

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Dealing Information

Secure Transaction

Derivatives knowledge not 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

16:30

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*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.36%
3 mth
+2.21%
6 mth
+2.77%
1 yr
+7.86%
3 yr
+19.49%
5 yr
+25.19%

Analytical Figures (3 years)

Annualized Return
+6.12%
Annualized Volatility
+4.81%
Sharpe Ratio
+0.80

Fund Information

Fund Houses
FIL Investment Management (Hong Kong) Limited
Launch Date
2003-06-05
Fund Manager
Harley Lank
Manager Start Date
Harley Lank (Start Date: 2003-05-08)
Geographical Focus
US
Asset Class/ Sector
Fixed Income - High yield
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 2019-10-30)
USD 3,414,851,134.301
Management Fee
1.00%
Latest Dividend
USD 0.040500 (2019-10-31)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not 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

16:30

-

Dividend Records

Dividend DateDividend Records (USD)
2019-10-310.040500
2019-09-300.036700
2019-09-010.039400
2019-07-310.045900
2019-06-300.039900
2019-06-020.046300
2019-04-300.044200
2019-03-310.048000
2019-02-280.044500
2019-02-270.044500
2019-01-310.048500
2019-01-010.045800
2018-12-020.045600
2018-10-310.046800
2018-09-300.037800
2018-09-020.043400
2018-07-310.047500
2018-07-010.043100
2018-05-310.050000
2018-04-300.038800
2018-04-010.158300
2018-02-280.037700
2018-01-310.044900
2018-01-010.042600
2017-11-300.041900
2017-10-310.044500
2017-10-010.039100
2017-08-310.044800
2017-07-310.038800
2017-07-020.041400
2017-05-310.043600
2017-04-300.041300
2017-04-020.043800
2017-02-280.045000
2017-01-310.043600
2017-01-010.043600
2016-11-300.043300
2016-10-310.041800
2016-10-020.044700
2016-08-310.047500
2016-07-310.043800
2016-06-300.046500
2016-05-310.043700
2016-05-010.042200
2016-03-310.043200
2016-02-290.046100
2016-01-310.043900
2016-01-030.044400
2015-11-300.043000
2015-11-010.041700
2015-09-300.042600
2015-08-310.041200
2015-08-020.041600
2015-06-300.044100
2015-05-310.040800
2015-04-300.042800
2015-03-310.071800
2015-03-010.044300
2015-02-010.044100
2015-01-010.043500
2014-11-300.041100
2014-11-020.041500
2014-09-300.042400
2014-08-310.043200
2014-07-310.043200
2014-06-300.042300
2014-06-010.042600
2014-05-010.040000
2014-04-300.037100
2014-03-310.046200
2014-03-020.049400
2014-02-020.049100
2014-01-010.047300
2013-12-010.049700
2013-10-310.049000
2013-09-300.047800
2013-09-010.050500
2013-07-310.047200
2013-06-300.048600
2013-06-020.048200
2013-04-300.048000
2013-03-310.045800
2013-02-280.049800
2013-01-310.048000
2013-01-010.045900
2012-12-020.050400
2012-10-310.047800
2012-09-300.046200
2012-09-020.044700
2012-07-310.047200
2012-07-010.048100
2012-05-310.050900
2012-04-300.050600
2012-04-010.051000
2012-02-290.051300
2012-01-310.048000
2012-01-010.052500
2011-11-300.052700
2011-10-310.052600
2011-10-020.052300
2011-08-310.057600
2011-07-310.052400
2011-06-300.052900
2011-05-310.051500
2011-05-010.049700
2011-03-310.050100
2011-02-280.051100
2011-01-310.051700
2011-01-020.052700
2010-11-300.052400
2010-10-310.048700
2010-09-300.053800
2010-08-310.052700
2010-08-010.055300
2010-06-300.056900
2010-05-310.060600
2010-05-020.052600
2010-03-310.055600
2010-02-280.050700
2010-01-310.051900
2010-01-030.067000
2009-11-300.046100
2009-11-010.047900
2009-09-300.054200
2009-08-310.050100
2009-08-020.055200
2009-06-300.047000
2009-05-310.053400
2009-04-300.045300
2009-03-310.031000
2009-03-010.059800
2009-02-010.053600
2009-01-010.066700
2008-11-300.066400
2008-11-020.060000
2008-09-300.067200
2008-08-310.050800
2008-07-310.050700
2008-06-300.052700
2008-06-010.050600
2008-04-300.054400
2008-03-310.057200
2008-03-020.059200
2008-01-310.061900
2008-01-010.060600
2007-12-020.064300
2007-10-310.058000
2007-09-300.060000
2007-09-020.059900
2007-07-310.063000
2007-07-010.058600
2007-05-310.057700
2007-04-300.060600
2007-04-010.058600
2007-02-280.055800
2007-01-310.054400
2007-01-010.056600
2006-11-300.054400
2006-10-310.052200
2006-10-010.054700
2006-08-310.059100
2006-07-310.059500
2006-07-020.056600
2006-05-310.055400
2006-04-300.052500
2006-04-020.052500
2006-02-280.055500
2006-01-310.072200
2006-01-020.055500
2005-11-300.057900
2005-10-310.056200
2005-10-020.056800
2005-08-310.054200
2005-07-310.055200
2005-06-300.050700
2005-05-310.055100
2005-05-010.055600
2005-03-310.057000
2005-02-280.057300
2005-01-310.052700
2005-01-030.053800
2004-11-300.051800
2004-10-310.051700
2004-09-300.055500
2004-08-310.056500
2004-08-010.055100
2004-06-300.057000
2004-05-310.054500
2004-05-020.050800
2004-03-310.048600
2004-02-290.043900
2004-02-010.047200
2004-01-010.044300
2003-11-300.050000
2003-11-020.054500
2003-09-300.052800
2003-08-310.054600
2003-07-310.045500
2003-06-300.034700

Investment Objective

The fund is a Bond fund and aims to provide a high level of current income and capital growth.

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. Investing in Loans
The fund may have direct exposure to loans investment. These are typically high yielding investments 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 investments will be significantly higher than on lower yielding debt instruments. Further they are often subject to a higher risk of issuer default. The vulnerability to economic cycles is also higher as during economic downturns, these investments are more volatile than investment grade bonds as investors become more risk averse and default risk rises. Borrower default risk is when a borrower is unable to make interest or principal payments to holders of its loan. Liquidity risk is when an investment cannot be sold, or can only be sold at a depressed price because of insufficient demand. When purchasing loan participations, a fund assumes the economic risk associated with the corporate borrower and the credit risk associated with an interposed bank or other financial intermediary. In addition, investments in loans through a direct assignment include the risk that if a loan is terminated, a fund could become part owner of any collateral, and would bear the costs and liabilities associated with owning and disposing of the collateral.
5. 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.
6. 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.
7. 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.
8. Risks associated with distribution out of capital
For certain Classes of Shares, dividends may be 1) paid out of gross income while fees/charges may be charged to capital of the fund. This will result in an increase in distributable income for the payment of dividends, and therefore the fund may pay dividend effectively out of capital; or 2) paid directly out of capital where the net income generated by the fund is insufficient to pay a distribution as declared. Investors should note that the payment of dividends directly out of capital and/or effectively out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Such distributions may result in an immediate decrease in the net asset value per Share of the fund. If there is a change to this policy, prior approval will be sought from the SFC and affected investors will receive at least one month’s prior written notification.

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852
3896 3896

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