Fact sheet: Fidelity Moneybuilder Balanced

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
MIXED ASSET - HIGHER RISK
Sector
UT Mixed Investment 40-85% Shares
Fund type
OEIC
Primary aim
GROWTH & INCOME
Why Money Observer Rates Fidelity Moneybuilder Balanced

Rated Fund 2013-2017. Taking a conservative, safety first approach

This fund is a past Money Observer award winner. It is aimed primarily at investors seeking income and currently yields 3.9 per cent. But, like other income-oriented funds, it can be useful for growth investors who want to take a relatively cautious approach.

Investors who do not need the income can opt to have it reinvested. The fund has separate equity and bond portfolios, typically around 65 per cent and 35 per cent of the total portfolio respectively. Michael Clark is responsible for the equity portfolio and Ian Spreadbury for the bonds.

Clark aims to identify companies that support his SIRP (safety of income at a reasonable price) approach. They typically have two main characteristics.

The first is a decent-quality business, strong enough to withstand tough economic times. The second quality he looks for is the ability to generate sufficient cash flow to fund future growth and pay increasing dividends over time. He likes stable, defensive businesses that deliver low-volatility returns and steady capital growth.

Spreadbury, one of the UK's leading bond fund managers, invests mainly in UK gilts but has some flexibility to invest in corporate bonds. Within the corporate bond allocation, he emphasises selection of the right issuers and ensuring diversity.

The combination of a conservatively invested portfolio of equities and bonds is aimed at providing a low-volatility fund that provides growth in the good times, but limits the downside in the bad times. It has a good longer-term track record.

3 Year Performance
Fund Performance21.2%
Average of Rated Funds Group39%
Sector Performance27.9%
Fund information
Fund name
Fidelity Moneybuilder Balanced Y Inc
Fund manager company
Fidelity International (FIL In
Fund type
OEIC
Fund managers
  • Ian Spreadburysince 27/11/2012
  • Michael Clarksince 01/12/2009
Accolades
Winner - Large Funds - Mixed Asset (Higher Risk)
Fund objective
Aims to provide an attractive level of income together with some long-term capital growth. Invests primarily in the UK. The portfolio will obtain exposure to a combination of UK government and corporate bonds and other fixed interest securities, as well as company shares including preference shares and convertibles. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments may be made in relation to bonds issued in currencies other than the fund’s denominated currency. Exposure to currencies may be hedged, for example with currency forward contracts. Can invest in relation to bonds issued by governments, companies and other bodies. The fund may make use of derivatives which are consistent with achieving the fund’s objective. This may result in “leverage” by which we mean a level of exposure which could expose the fund to the potential of greater gains or losses than would otherwise be the case. The fund has discretion in its choices of investments within its objectives and policies. Income is accumulated in the share price. Shares can usually be bought and sold each business day of the fund. This fund may not be appropriate for investors who plan to sell their shares in the fund within 5 years. Investment in the fund should be regarded as a long-term investment.
Benchmark
  • FTSE All Share
Investment style
Aggressive
Investment method
None
Quick stats
1 Year return
1.2%
1 Year rank in sector
278/280
Sector
UT Mixed Investment 40-85% Shares
Yield
3.9%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.67%
Fund size
£637m (£613m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
63
Mid price
60.83
Top in this sector
Fund name1 Year
S&W Acacia22.3%
Premier Diversified19.1%
MFM Hathaway17.5%
M&G Episode Growth17.4%
CF Seneca Diversified Growth17.3%
...more in UT Mixed Investment 40-85% Shares

Performance snapshot

Holdings snapshot

  • UK63.1%
    Not Specified30.6%
    USA3.4%
    Switzerland1.3%
    Money Market0.8%
  • Fixed Interest30.6%
    Consumer Goods19.4%
    Financials17.5%
    Health Care8.7%
    Industrials8%
  • UK Equities63.1%
    Global Fixed Interest30.6%
    US Equities3.4%
    Swiss Equities1.3%
    Money Market0.8%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.9%-2%1.9%1.2%21.2%45%
Sector1%2.2%4.3%10%27.9%51.4%
Rank within sector287 / 290287 / 288264 / 285278 / 280217 / 242164 / 210
Quartile4th4th4th4th4th4th
Calendar performance
 YTD - 20172016201520142013
Fund3.6%7.2%5.3%9.1%13.1%
Sector7%13.3%2.2%5%13.5%
Rank within sector263 / 282249 / 26730 / 24518 / 236145 / 222
Quartile4th4th1st1st3rd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
0.72
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.73
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.47
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
6.85
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
4.95
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.3
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.55
Price movement
52 week high63.63
52 week low58.02
Current bid price-
Current offer price-
Current mid price60.83
Region
1UK63.12%
2Not Specified30.6%
3USA3.43%
4Switzerland1.3%
5Money Market0.8%
6France0.75%
Industry sector
1Fixed Interest30.6%
2Consumer Goods19.35%
3Financials17.49%
4Health Care8.71%
5Industrials8.03%
6Utilities5.76%
7Consumer Services4.94%
8Oil & Gas1.85%
9Telecommunications1.78%
Asset type
1UK Equities63.12%
2Global Fixed Interest30.6%
3US Equities3.43%
4Swiss Equities1.3%
5Money Market0.8%
6French Equities0.75%
Individual holdings
1HM TREASURY UNITED KINGDOM DMO 5% GILT 07/03/18 GBP7.4%
2GLAXOSMITHKLINE3.4%
3HM TREASURY UNITED KINGDOM DMO 4.5% GILT 07/03/2019 GBP0.013.4%
4ASTRAZENECA PLC3.2%
5HSBC HLDGS3.2%
6BRITISH AMERICAN TOBACCO3.1%
7IMPERIAL BRANDS PLC3.1%
8HM TREASURY UNITED KINGDOM DMO 4.25% GILT 07/03/36 GBP0.012.9%
9BAE SYSTEMS2.6%
Management
Fund manager group
No data available.
Fund manager company
Fidelity International (FIL In
Fund type
OEIC
Fund objective
Aims to provide an attractive level of income together with some long-term capital growth. Invests primarily in the UK. The portfolio will obtain exposure to a combination of UK government and corporate bonds and other fixed interest securities, as well as company shares including preference shares and convertibles. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments may be made in relation to bonds issued in currencies other than the fund’s denominated currency. Exposure to currencies may be hedged, for example with currency forward contracts. Can invest in relation to bonds issued by governments, companies and other bodies. The fund may make use of derivatives which are consistent with achieving the fund’s objective. This may result in “leverage” by which we mean a level of exposure which could expose the fund to the potential of greater gains or losses than would otherwise be the case. The fund has discretion in its choices of investments within its objectives and policies. Income is accumulated in the share price. Shares can usually be bought and sold each business day of the fund. This fund may not be appropriate for investors who plan to sell their shares in the fund within 5 years. Investment in the fund should be regarded as a long-term investment.
Benchmark
  • FTSE All Share
Investment style
Aggressive
Investment method
None
Fund managers
NameSinceBiography
Ian Spreadbury27/11/2012Ian Spreadbury is a Senior Portfolio Manager at Fidelity International with 30 years investment experience. Since joining Fidelity in 1995, he has been responsible for managing several of Fidelity's bond strategies. Previously, he worked for Legal and General in various positions including Senior Portfolio Manager (Bonds). Ian has a BSc in Pure & Applied Mathematics from University College of North Wales and an MSc in Mathematical Statistics from University of Sussex. He is also a Fellow of the Institute of Actuaries and is one of the most experienced fixed income managers in the industry.
Michael Clark01/12/2009Michael Clark is a Portfolio Manager at Fidelity Worldwide Investment (FIL). From FIL's London headquarters, Mr. Clark has managed the Fidelity Income Plus Fund since July 2008. He also manages the Fidelity Enhanced Income Fund, which was launched in February 2009. Prior to becoming a Portfolio Manager, Mr. Clark spent five years as Pan-European Equity Research Analyst with Fidelity, covering oil services, construction, automotive and industrials. Mr Clark has over twenty years investment experience as an analyst on the sell-side, covering a wide range of companies and sectors in the UK and Continental Europe. These sectors include foods, business services, pharmaceuticals and electrical engineering. Previously he worked at JP Morgan, Enskilda and Morgan Grenfell. In 1982 Mr Clark gained a degree in Modern Languages from Cambridge University.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
France, United Kingdom, Guernsey, Ireland, Jersey
Fidelity Moneybuilder Balanced Inc
Initial charge-
Annual charge1%
Min single investment£500
Min regular saving£250
Available in ISAYes
Ongoing charge (OCF)1.2%
Total expense ratio (TER)1.2%
Bid price-
Offer price-
Mid price51.93
CurrencyGBX
Price updated18/08/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFI86
Fidelity Moneybuilder Balanced Y Acc
Initial charge-
Annual charge0.5%
Min single investment£500
Min regular saving£250
Available in ISAYes
Ongoing charge (OCF)0.67%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price56.27
CurrencyGBX
Price updated18/08/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMV8J
Fidelity Moneybuilder Balanced Y Inc
Initial charge-
Annual charge0.5%
Min single investment£500
Min regular saving£250
Available in ISAYes
Ongoing charge (OCF)0.67%
Total expense ratio (TER)0.67%
Bid price-
Offer price-
Mid price60.83
CurrencyGBX
Price updated18/08/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeGMUB
Data provided by

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