Fidelity Funds - Global Technology Fund W-Acc-GBP

Specialist

Rated Fund 2017-19. Looks for the best part of the technology chain

This is a Luxembourg-domiciled fund that invests in companies throughout the world that have, or will, 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 had previously been 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 2018 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 66% of assets, but other key holdings included Germany’s SAP, South Korea’s Samsung Electronics and China’s Baidu. Overall, Sohn had around 60 holdings with the top 10 accounting for 40% of the portfolio.

Narrative and ratings content all as of 01 January 2019.

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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
1.05 %
Risk Rating
2
3 Year Sharpe
1.68
3 Year Alpha
4.62
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.
Holding %
Apple Inc 6.45 %
Samsung Electronics Co Ltd Participating Preferred 5.43 %
Alphabet Inc A 4.87 %
International Business Machines Corp 4.12 %
Intel Corp 3.83 %
SAP SE 3.52 %
NXP Semiconductors NV 3.32 %
Microsoft Corp 3.01 %
Electronic Arts Inc 2.99 %
Marvell Technology Group Ltd 2.32 %
Region %
United States 63.57 %
Asia - Emerging 10.98 %
Asia - Developed 9.71 %
Eurozone 6.68 %
Japan 5.83 %
Sector %
Technology 89.67 %
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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