Fidelity Funds - Global Technology Fund W-Acc-GBP

Specialist

Rated Fund 2017-20. Looks to identify the most rewarding links in the technology chain

This is a Luxembourg-domiciled fund that has outperformed the MSCI All Countries World Information Technology index over at least five years. It invests in companies around the world that have or will develop products, processes or services that deliver technological advances and improvements or benefit significantly from them.

The fund has been managed since 2013 by HyunHo Sohn, previously involved in researching global technology stocks. He takes a bottom-up, stockpicking approach and seeks quality companies with sustainable growth prospects that trade at attractive valuations. However, he believes understanding technology trends and innovations are key to identifying long-term leaders in the industry.

An important element in his investment process is value chain analysis, which he uses to identify the companies better able to profit from a particular product’s life cycle, whether it is producing component parts or selling a 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 disruptive technology that are set to experience high growth. Cyclical opportunities are found in sub- sectors and typically have strong market positions. Special situations are mispriced businesses with recovery potential.

At the end of 2019, much of the portfolio was invested in the US, which accounted for 66% of assets. Overall, Sohn had around 60 holdings, with the top 10 accounting for 39% of the portfolio.

Narrative and ratings content all as of 01 January 2020.

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Name
Fidelity Funds - Global Technology Fund W-Acc-GBP
Manager
Fidelity (FIL Inv Mgmt (Lux) S.A.)
Type
SICAV
ISIN
LU1033663649
Sector
Technology and Telecommunications
Launched
11/03/2014
OCF
1.04 %
Risk Rating
3
3 Year Sharpe
1.15
3 Year Alpha
0.78
Yield
0 %
Benchmark
MSCI ACWI/Information Technology NR USD
The fund aims 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. As this fund may invest globally, it may be exposed to countries considered to be emerging markets.
Holding %
Apple Inc 5.11 %
Alphabet Inc A 4.86 %
Samsung Electronics Co Ltd Participating Preferred 4.64 %
Microsoft Corp 4.04 %
KLA Corp 3.83 %
Western Digital Corp 3.62 %
Analog Devices Inc 3.16 %
Xilinx Inc 2.95 %
NXP Semiconductors NV 2.94 %
Facebook Inc A 2.77 %
Region %
United States 70.93 %
Asia - Developed 9.06 %
Japan 7.10 %
Sector %
Technology 75.12 %
Communication Services 18.28 %
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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