Fidelity Funds - Global Short Duration Income Fund A Acc USD

富達基金 - 環球短期債券基金 A類 Acc 美元

LU0390710027

Risk Rating: Level 3

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.

Dealing Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

0.75%

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

-

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.26%
3 mth
+0.78%
6 mth
+2.36%
1 yr
+6.17%
3 yr
+13.37%
5 yr
-3.54%

Analytical Figures (3 years)

Annualized Return
+4.27%
Annualized Volatility
+3.64%
Sharpe Ratio
+0.42

Fund Information

Fund Houses
FIL Investment Management (Hong Kong) Limited
Launch Date
2008-11-24
Fund Manager
Peter Khan
Claudio Ferrarese
Timothy Foster
Manager Start Date
Peter Khan (Start Date : 2017-07-12) Claudio Ferrarese (Start Date : 2019-01-01) Timothy Foster (Start Date : 2019-01-01)
Geographical Focus
Global
Asset Class/ Sector
Fixed Income - Investment grade sovereign
Risk Rating
Risk Level 3

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 1,059,307,147.071
Management Fee
0.75%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

0.75%

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

No Dividends

Investment Objective

The fund is a Bond Fund and seeks to deliver an attractive income whilst maintaining an average duration of investments that does not exceed three years.

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.Investment Grade Risk
The fund may invest in investment grade debt securities. Investment grade debt securities, like other types of debt securities, involve credit risk and may be subject to ratings downgrades by the rating agencies in the period between their issuance and maturity. Such downgrades may occur during the period in which the fund invests in these securities and it may be difficult for the fund to dispose of the debt securities that are being downgraded. In the instance of one or more downgrades, below investment grade or otherwise, the fund may continue to hold such securities. Such downgrading may affect the net asset value of the fund.
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.Risks associated with investments in China fixed income instruments
For investments held by the fund in China fixed income securities, there may not be a liquid or active market for the trading of RMB-denominated bonds. Therefore, the fund may be subject to the risk of not being able to sell its bonds on a timely basis, or will have to sell at a deep discount to their face values. The security prices may fluctuate significantly. The fund’s value and liquidity may be adversely affected and its volatility may increase.
The fund is also exposed to the credit/insolvency risk of issuers of fixed income instruments and deposits that the fund may invest in. In the event of bankruptcy or insolvency of any of its counterparties, the fund may experience delays in liquidating its positions and may incur significant losses as a result.
8.Renminbi Currency Risk
Chinese Renminbi (RMB) is currently traded in two markets: one in the PRC (onshore RMB, or CNY) and one outside the PRC (primarily in Hong Kong) (offshore RMB, or CNH). Although CNH and CNY are the same currency, they trade at different rates, and any divergence between CNH and CNY may adversely impact investors. Onshore RMB is not freely convertible and is subject to exchange controls and certain requirements by the PRC government, whereas offshore RMB is freely tradable. Whilst the RMB is traded freely outside the PRC, the RMB spot, forward foreign exchange contracts and related instruments reflect the structural complexities of this evolving market. There is no guarantee that the value of RMB against the investors’ base currencies will not depreciate. Any depreciation of RMB could adversely affect the value of investor’s investment in the fund. Accordingly, the fund may be exposed to greater foreign exchange risks. Under exceptional circumstances, payment of redemptions and/or dividend payment in RMB may be delayed due to the exchange controls and restrictions applicable to RMB.
9.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.
10.Emerging Markets
This fund invests in emerging market securities (in particular securities in Latin America, South East Asia, Africa, Eastern Europe (including Russia) and the Middle East) and the price of these securities may be more volatile than those of securities in more developed markets.
This volatility may stem from political and economic factors and be exacerbated by legal, trading liquidity, settlement, transfer of securities and currency factors.
Although care is taken to understand and manage these risks, the fund and accordingly the shareholders in the fund will ultimately bear the risks associated with investing in these markets.
11.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 dividend yields generally mean that there will be increased potential for capital appreciation and/ or depreciation for fixed income securities.
12.Financial Derivative Instruments
Although the fund will not make extensive use of derivatives for investment purposes or use complex derivatives or strategies to meet the investment objectives of the fund, the use of derivatives may give rise to leverage, liquidity, counterparty and valuations risks at times. In adverse situations, the fund’s use of derivatives may become ineffective and the fund may suffer significant losses.

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3896 3896

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