Fidelity expands range with Global Future Leaders fund
Fidelity International has launched the Global Future Leaders fund to provide exposure to global mid and small-cap stocks.
Co-managed by James Abela and Maroun Younes, it would hold between 40 to 70 stocks between US$1 billion ($1.41 billion) and US$40 billion.
It was a version of its Future Leaders fund which was launched on 2013 to invest in Australian small and mid-cap stocks.
Stocks would be chosen based on their viability, sustainability, and credibility, and then sub-divided by quality, value, transition and momentum.
“The small and mid-cap portion of the market offers investors exposure to inefficiently priced or undiscovered companies in their earlier stages of growth or maturity, and the associated upside growth prospects,” said the pair.
“In effect, we are looking for the stars of tomorrow, today – attractively valued companies with strong competitive positioning and sound company management.”
According to FE Analytics, within the Australian Core Strategies universe, the Fidelity Future Leaders fund returned 3.5% over one year to 31 August, 2020, versus returns by the Australian small and mid-cap sector of 7.8%.
Performance of Fidelity Future Leaders versus Australia small and mid cap sector over one year to 31 August 2020
AUTHOR
Laura Dew
Recommended for you
Self-reporting issues to ASIC could lead to a reduced charge for a fund manager but it may not exempt them from enforcement action altogether, according to ASIC chair Joe Longo.
AllianceBernstein has announced its chief investment officer and Australian equity manager Roy Maslen is to step down from the firm at the end of the year.
Pinnacle Investment Management has announced it plans to launch a new affiliate from a global equities team departing Royal London Asset Management.
Asset manager Nuveen is seeing opportunity in municipal bonds which are at their highest yields in over a decade.
