Factsheet: Fidelity Global Technology W-Acc-GBP

Specialist

Rated Fund 2017-2018. Looks for the best part of the technology chain

This is a Luxembourg-domiciled fund that invests in companies throughout the world that have developed (or plan to develop) products, processes or services that provide technological advances and improvements, or benefit significantly from them with a view to producing long-term capital growth.

The fund has been managed since 2013 by HyunHo Sohn, who was previously involved in researching global technology stocks. He takes a bottom-up, stock-picking approach and seeks to identify quality companies with sustainable growth prospects trading at attractive valuations. He believes that understanding technology trends, innovations and new technologies are key to identifying long-term leaders in the industry. An important element of his investment process is value-chain analysis, which he uses in order to buy the companies that he believes are best able to profit from a particular product's life cycle, whether it is producing the component parts or selling the finished product.The investment opportunities he favours tend to fall into three categories � growth, cyclical and special situations. Growth companies are those focused on innovations or with disruptive technology that are set to experience high growth. Cyclical opportunities are found in sub-sectors and typically have strong market positions, while special situations are mispriced businesses with recovery potential.At the end of 2017 his top three holdings were Alphabet (Google's parent company), Intel and Apple. Much of the portfolio was invested in the US, which accounted for 65 per cent of assets, but other key holdings included Taiwan Semiconductor Manufacturing, Germany's SAP and South Korea's Samsung Electronics. Overall, Sohn had around 60 holdings.

Narrative and ratings content all as of 01 January 2018.

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Name
Fidelity Global Technology W-Acc-GBP
Manager
Fidelity (FIL Inv Mgmt (Lux) S.A.)
Type
SICAV
ISIN
LU1033663649
Sector
Technology and Telecommunications
Launched
11/03/2014
OCF
1.07 %
Risk Rating
3
3 Year Sharpe
1.42
3 Year Alpha
2.13
Yield
0 %
Benchmark
MSCI ACWI/Information Technology NR USD
The fund’s objective is to provide investors with long-term capital growth, principally through investment in the equity securities of companies throughout the world that have, or will, develop products, processes or services that will provide, or will benefit significantly from, technological advances and improvements. The aim of the fund is to provide investors with long-term capital growth from diversified and actively managed portfolios of securities. Unless otherwise specified in the investment objective, the income of the fund is expected to be low. The fund will invest principally (at least 70% and normally 75% in value) in equities in the markets and sectors reflected in the name of the fund and in companies established outside those markets but which derive a significant proportion of their earnings from those markets.
Holding %
Alphabet Inc A 8.33 %
Intel Corp 4.78 %
Apple Inc 4.59 %
SAP SE 3.90 %
Samsung Electronics Co Ltd Participating Preferred 3.87 %
Taiwan Semiconductor Manufacturing Co Ltd 3.73 %
International Business Machines Corp 3.71 %
Oracle Corp 3.70 %
Qualcomm Inc 3.15 %
Akamai Technologies Inc 3.00 %
Region %
United States 68.23 %
Asia - Developed 11.61 %
Eurozone 6.47 %
Japan 5.01 %
Sector %
Technology 89.81 %
Name
Fidelity (FIL Inv Mgmt (Lux) S.A.)
Address
L-1246, Luxembourg, Luxembourg
UCITS
Yes
Legal Structure
SICAV

Managers

HyunHo Sohn
Joined 03/31/2013

Data provided by Morningstar.

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