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.

On Holiday

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

14:00

-

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+1.52%
3 mth
+1.85%
6 mth
+6.68%
1 yr
+16.17%
3 yr
+16.13%
5 yr
+37.26%

Analytical Figures (3 years)

Annualized Return
+5.11%
Annualized Volatility
+9.80%
Sharpe Ratio
+0.42

Fund Information

Fund Houses
FIL Investment Management (Hong Kong) Limited
Launch Date
2003-06-05
Fund Manager
Harley Lank
Alexandre Karam
Manager Start Date
Harley Lank (Start Date: 2019-10-01) Alexandre Karam (Start Date: 2019-10-01)
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 2021-03-30)
USD 4,276,050,262.32
Management Fee
1.00%
Latest Dividend
USD 0.043400 (2021-03-31)

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

14:00

-

Dividend Records

Dividend DateDividend Records (USD)
2021-03-310.043400
2021-02-280.033500
2021-01-310.033100
2021-01-030.040400
2020-11-300.034400
2020-11-010.035400
2020-09-300.037400
2020-08-310.028100
2020-08-020.037000
2020-06-300.032800
2020-05-310.035300
2020-04-300.039300
2020-03-310.043200
2020-03-010.037100
2020-02-020.039800
2020-01-010.048200
2019-12-010.036700
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
2014-07-310.040000
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 seeks a high level of current income and capital appreciation by investing primarily (i.e. at least 70% of the fund's assets) in high-yielding, lower quality securities of issuers that have their principal business activities in the US.

Nature and Extent of Risks

Investment involves risks. Please refer to the Hong Kong Prospectus for details including the risk factors.
1. Risk to Capital and Income (Investment Risk)
The assets of the fund are subject to fluctuations in value. There is no guarantee of repayment of principal and you may not get back the original amount invested. Past performance is no guarantee of future performance.
2. Bonds and other Debt Instruments
The value of bonds or other debt instruments will fluctuate depending on e.g. market interest rates, the credit quality of the issuer, the currency of the investment (when it is different from the base currency of the fund) and liquidity considerations. In general, the prices of debt instruments rise when interest rates fall, whilst their prices fall when interest rates rise.
3. Downgrading risk
The credit rating of a debt instrument or its issuer may subsequently be downgraded. In the event of such downgrading, the value of the fund may be adversely affected. The investment manager may or may not be able to dispose of the debt instruments that are being downgraded.
4. Credit/Default Risk
Investments may be adversely affected if any of the institutions with which money is deposited suffers insolvency or are otherwise unable to pay interest or principal (default). Credit risk also arises from the uncertainty about the ultimate repayment of principal and interest from 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.
5. 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.
6. Valuation Risk
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.
7. Risk associated with Debt Securities Rated Below Investment Grade/Unrated Securities and High Yielding Debt Instruments 
The fund may invest in debt securities rated below investment grade or unrated securities. Such securities are generally subject to lower liquidity, higher volatility, heightened risk of default and loss of principal and interest than higher-rated/lower yielding debt securities.
8. Income-producing securities
Although the fund will generally invest in income-producing securities, it is not guaranteed that all underlying investments will generate income. To the extent that underlying investments of the fund are income producing, higher yields generally mean that there will be increased potential for capital appreciation and/or depreciation for fixed income securities.
9. Risk of investing in CoCos and other instruments with loss-absorption features
The fund may invest in instruments with loss-absorption features. Those features have been designed to meet specific regulatory requirements imposed on financial institutions and typically include terms and conditions specifying the instrument is subject to contingent write-down or contingent conversion to ordinary shares on the occurrence of the following: (a) when a financial institution is near or at the point of non-viability; or (b) when the capital ratio of a financial institution falls to a specified level.
Debt instruments with loss-absorption features are subject to greater capital risks when compared to traditional debt instruments as such instruments are typically subject to the risk of being written down or converted to ordinary shares upon the occurrence of pre-defined trigger events (such as those disclosed above). Such trigger events are likely to be outside of the issuer’s control and are complex and difficult to predict and may result in a significant or total reduction in the value of such instruments.
In the event of the activation of a trigger, there may be potential price contagion and volatility to the entire asset class. Debt instruments with loss-absorption features may also be exposed to liquidity, valuation and sector concentration risk.  The fund may invest in CoCos, which are highly complex and are of high risk. CoCos are a form of hybrid debt security with loss-absorption features that are intended to either convert into equity shares of the issuer (potentially at a discounted price) or have their principal written down (including permanently written down to zero) upon the occurrence of certain ‘triggers’. Coupon payments on CoCos are discretionary and may be cancelled by the issuer at any point, for any reason, and for any length of time.
The fund may also invest in senior non-preferred debts. While these instruments are generally senior to subordinated debts, they may be subject to write-down upon the occurrence of a trigger event and will no longer fall under the creditor ranking hierarchy of the issuer. This may result in total loss principal invested.
10. Country Concentration
The fund’s investments are concentrated in a single or small number of countries and may have greater exposures to the market, political, policy, foreign exchange, liquidity, tax, legal, regulatory, economic and social risks of those countries, and the value of the fund may be more volatile than a fund which diversifies across a larger number of countries.
11. Foreign Currency Risk
The fund’s assets may be 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. Fluctuations in the exchange rates between these currencies and the base currency as well as changes in exchange rate controls may adversely affect the fund’s net asset value. Risks associated with distribution out of/effectively out of the fund’s capital
Payment of dividends out of capital and/or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any such distributions may result in an immediate reduction of the NAV per share/unit.
12. Financial Derivative Instruments
The fund’s net derivative exposure may be up to 50% of its net asset value. The use of derivatives may give rise to liquidity risk, counterparty credit risk, volatility risk, valuations risks and over-the-counter transaction risk at times. The leverage element/component of a derivative can result in a loss significantly greater than the amount invested in the financial derivative instrument by the fund. Exposure to financial derivative instruments may lead to a high risk of significant loss by the fund.