We use cookies to personalise content and ads to deliver the best possible web experience. By continuing to use this site, you agree that we may store and access cookies on your device. You can change your preferences at any time on your browser. For more detail, click here to view our cookie policy.

Generic Links

Welcome to RL360's

dedicated financial adviser website

For financial advisers only

Not to be distributed to, or relied on by, retail clients

Various changes – Fidelity funds

Fidelity has announced a number of changes to various funds across its range, which will take effect between 16 December 2020 and 24 February 2021 (the latter date is currently provisional).

Impacts on
these defined fund range products

Impacts on
open architecture products including

  • PIMS
  • Choice
  • Select

Funds available in our open-architecture products

Various Fidelity funds that feature in our open-architecture products and will be subject to changes detailed in the Fidelity notification documents opposite.


Funds available in our defined fund range products

The Fidelity funds Asia Focus fund can be found in our defined fund range products Oracle, Paragon, Quantum, Quantum Malaysia, Regular Savings Plan and Regular Savings Plan Malaysia. A summary of the changes to the fund name and investment objective are detailed in the tables below.


The proposed changes to the Fidelity Funds Asia Focus fund will take effect from 24 February 2021, or such later date as may be determined by the board.


You can view a copy of the Fidelity notification documents opposite.


Current fund name

New fund name

Fidelity Funds - Asia Focus fund

Fidelity Funds - Sustainable Asia Equity fund


Summary of upcoming change to investment policy

The investment objective of the Fidelity Funds - Asia Focus fund will change to adopt a best-in-class strategy under which a minimum of 70% of the fund's net assets will be invested in securities which are deemed to maintain sustainable characteristics through investment in companies with strong or improving environmental, social and governance (ESG) characteristics.


The Portfolio will continue to be actively managed, and invest principally in the equity securities of companies domiciled in Asia excluding Japan.


The objective has been amended to state the fund will invest less than 30% of its net assets directly and/or indirectly in onshore China A and B shares on an aggregated basis. Previously the objective of the fund was that it could invest up to 10% of its net assets directly in China A and B shares (with aggregate exposure including direct and indirect investments being less than 30% of its assets).


You can view the full investment objective in the appendix to Fidelity notification document opposite.



Further changes to other funds (hybrids and convertible bonds)

With effect from 16 December 2020 the Fidelity Global Multi Asset Income fund, Fidelity Global Multi Asset Income fund and the Fidelity European High Yield fund will have their investment objectives updated so that these funds are entitled to invest less than 30% of their total net assets in hybrids and convertible bonds, with less than 20% of their net assets to be invested in convertible bonds.


While the overall risk profile of these funds will not change as a result of the change in the investment objective described above, plan owners should also note the risks associated with investment in hybrids and convertible bonds as detailed in the prospectus.


Further changes to other funds (amendments to the limits related to onshore China investments)

With effect from 16 December 2020 the Fidelity Emerging Markets fund, Fidelity Funds - Asia Pacific Opportunities fund, Fidelity Emerging Markets fund and the Fidelity China Consumer fund will have their investment objectives updated to reflect amended restrictions applicable to investment in onshore Chinese securities in order to meet changing plan owner needs and aim to provide plan owners with superior outcomes.


The overall risk profile of these funds will not change as a result of these changes.


A detailed table outlining the current exposure and the amendments can be found in the appendix to Fidelity notification document opposite.



_______________________________________________________________________

For more information about Fidelity visit www.fidelityinternational.com