Fidelity Funds - Emerging Market Debt Fund A MDis USD

富達基金 - 新興市場債券基金 A類 MDis 美元

LU0238206170

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 Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.20%

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

2021-05-18

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+2.80%
3 mth
-0.84%
6 mth
+4.22%
1 yr
+25.84%
3 yr
+17.65%
5 yr
+26.87%

Analytical Figures (3 years)

Annualized Return
+5.57%
Annualized Volatility
+15.39%
Sharpe Ratio
+0.32

Fund Information

Fund Houses
FIL Investment Management (Hong Kong) Limited
Launch Date
2006-01-22
Fund Manager
Eric Yung Wong
Paul Michael Greer
Marton Huebler
Manager Start Date
Eric Yung Wong (Start Date: 2019-01-02) Paul Michael Greer (Start Date: 2019-01-02) Marton Huebler (Start Date: 2019-07-01)
Geographical Focus
Emerging Markets
Asset Class/ Sector
Fixed Income - Hybrid
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 2,444,971,525.214
Management Fee
1.20%
Latest Dividend
USD 0.035000 (2021-05-02)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.20%

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

2021-05-18

Dividend Records

Dividend DateDividend Records (USD)
2021-05-020.035000
2021-03-310.049200
2021-02-280.035400
2021-01-310.031800
2021-01-030.037300
2020-11-300.026500
2020-11-010.041000
2020-09-300.040600
2020-08-310.036100
2020-08-020.044100
2020-06-300.045200
2020-05-310.041600
2020-04-300.017000
2020-03-310.047600
2020-03-010.047500
2020-02-020.054200
2020-01-010.058100
2019-12-010.042700
2019-10-310.053600
2019-09-300.041700
2019-09-010.042700
2019-07-310.047600
2019-06-300.037500
2019-06-020.040500
2019-04-300.041100
2019-03-310.044700
2019-02-280.037000
2019-02-270.037000
2019-01-310.039400
2019-01-010.037900
2018-12-020.039600
2018-10-310.035900
2018-09-300.025600
2018-09-020.066300
2018-07-310.032800
2018-07-010.029800
2018-05-310.041400
2018-04-300.044400
2018-04-010.039700
2018-02-280.030500
2018-01-310.036400
2018-01-010.031800
2017-11-300.026700
2017-10-310.039000
2017-10-010.035700
2017-08-310.042000
2017-07-310.032400
2017-07-020.033600
2017-05-310.032200
2017-04-300.032700
2017-04-020.035600
2017-02-280.038900
2017-01-310.036800
2017-01-010.037400
2016-11-300.037400
2016-10-310.035100
2016-10-020.034400
2016-08-310.033600
2016-07-310.033400
2016-06-300.037000
2016-05-310.058200
2016-05-010.040600
2016-03-310.038300
2016-02-290.041000
2016-01-310.040200
2016-01-030.037800
2015-11-300.040400
2015-11-010.040400
2015-09-300.040600
2015-08-310.039400
2015-08-020.037200
2015-06-300.035800
2015-05-310.035000
2015-04-300.037100
2015-03-310.039700
2015-03-010.037800
2015-02-010.037400
2015-01-010.038800
2014-11-300.039500
2014-11-020.042600
2014-09-300.037000
2014-08-310.039200
2014-07-310.040000
2014-06-300.037200
2014-06-010.047000
2014-05-010.040000
2014-04-300.039200
2014-03-310.041000
2014-03-020.043800
2014-02-020.048300
2014-01-010.039000
2013-12-010.041200
2013-10-310.040300
2013-09-300.042600
2013-09-010.037700
2013-07-310.042400
2013-06-300.039400
2013-06-020.041600
2013-04-300.040100
2013-03-310.044600
2013-02-280.038500
2013-01-310.038800
2013-01-010.036800
2012-12-020.037800
2012-10-310.039000
2012-09-300.044000
2012-09-020.041600
2012-07-310.039900
2012-07-010.044700
2012-05-310.043300
2012-04-300.045500
2012-04-010.042700
2012-02-290.045700
2012-01-310.041300
2012-01-010.049900
2011-11-300.050600
2011-10-310.053600
2011-10-020.050100
2011-08-310.054300
2011-07-310.047500
2011-06-300.048400
2011-05-310.046000
2011-05-010.044100
2011-03-310.047900
2011-02-280.045000
2011-01-310.045500
2011-01-020.043200
2010-11-300.041500
2010-10-310.039300
2010-09-300.040400
2010-08-310.042300
2010-08-010.039700
2010-06-300.041900
2010-05-310.040600
2010-05-020.046000
2010-03-310.044000
2010-02-280.046900
2010-01-310.070600
2010-01-030.051500
2009-11-300.049200
2009-11-010.045300
2009-09-300.047500
2009-08-310.046300
2009-08-020.049100
2009-06-300.046100
2009-05-310.047500
2009-04-300.050500
2009-03-310.049400
2009-03-010.045700
2009-02-010.044000
2009-01-010.043800
2008-11-300.048800
2008-11-020.049900
2008-09-300.048000
2008-08-310.045700
2008-07-310.044900
2008-06-300.044300
2008-06-010.043800
2008-04-300.044600
2008-03-310.044400
2008-03-020.046400
2008-01-310.047000
2008-01-010.044100
2007-12-020.047100
2007-10-310.049400
2007-09-300.049000
2007-09-020.048200
2007-07-310.045600
2007-07-010.042900
2007-05-310.046700
2007-04-300.046400
2007-04-010.046000
2007-02-280.045100
2007-01-310.045700
2007-01-010.045300
2006-11-300.048500
2006-10-310.047000
2006-10-010.045200
2006-08-310.052300
2006-07-310.043300
2006-07-020.044900
2006-05-310.043000
2006-04-300.029800
2006-04-020.026300

Investment Objective

The fund is a Bond fund and aims to provide income and capital appreciation through primarily (i.e. at least 70% of the fund's assets) investing in global emerging markets debt securities. Emerging markets include Latin America, South East Asia, Africa, Eastern Europe (including Russia) and the Middle East, but investments can also be made in other regions.

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. Sovereign Debt Risk
The fund’s investment in securities issued or guaranteed by governments may be exposed to political, social and economic risks. In adverse situations, the sovereign issuers may not be able or willing to repay the principal and/or interest when due or may request the fund to participate in restructuring such debts. The fund may suffer significant losses when there is a default of sovereign debt issuers.
9. 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.
10. 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.
11. Emerging Markets
This fund invests in emerging market securities which may involve increased risks and special considerations not typically associated with the investment in securities in more developed markets. The price of these securities may be more volatile and/or less liquid than those of securities in more developed markets.
This volatility or lack of liquidity may stem from political, economic, legal, taxation, settlement, transfer of securities, custody and currency/currency control 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.
12. 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.
13. 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.
14. 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.