Fidelity Investment Funds IV - Fidelity Multi Asset Income Fund Y Acc

Mixed Asset 0-40% Equity

Rated Fund 2017-19. Uses research-driven approach

Fidelity Multi Asset Income aims to generate a natural and sustainable income by investing in a broad range of assets to help diversify risk and preserve investors’ capital. This is achieved mainly through investment in other Fidelity funds. The fund yields 4.2% and pays income annually.

Launched in 2007, it is co-managed by Eugene Philalithis, George Efstathopoulos and Chris Forgan, who came on board in 2012, 2016 and 2018 respectively.

They believe the best composition for a multi-asset income fund is a combination of three things: income assets, such as bonds and cash; growth assets including shares and property; and hybrid assets with the potential for growth and income, such as high yield bonds and alternative investments.

Asset allocation is based on an assessment of the current economic backdrop. The process draws on information from Fidelity’s own quantitative models. Sentiment and technical indicators are used to complement the macroeconomic approach.

For fund selection they filter the underlying fund managers based on qualitative and quantitative criteria. Qualitative analysis focuses on understanding how the manager’s investment process works, considering factors such as investment philosophy, stock selection process, portfolio construction and risk controls. Quantitative analysis examines where a fund’s performance comes from, measuring historical performance factors and conducting holdings-based analysis.

Although most of the funds are in-house and actively managed, they can also include external specialist funds and exchange traded funds. At the end of 2018, it had the greatest allocation to investment grade bonds, high yield bonds and global equities. The fund has ongoing charges of 1.14%.

Narrative and ratings content all as of 01 January 2019.

See all Money Observer rated funds
Name
Fidelity Investment Funds IV - Fidelity Multi Asset Income Fund Y Acc
Manager
Fidelity (FIL Investment SVCS (UK) Ltd)
Type
Open Ended Investment Company
ISIN
GB00BGFBMY77
Sector
Mixed Investment 0-35% Shares
Launched
10/12/2013
OCF
1.16 %
Risk Rating
4
3 Year Sharpe
1.19
Yield
3.3 %
Benchmark
N/A
The Fund aims to achieve an income yield that is typically within a range of 4-6% per annum. There is no guarantee that the income target will be achieved by the Fund. Any income you may receive will vary depending on the share class of the Fund into which you are invested. The Fund invests primarily in funds (including funds managed by Fidelity) which provide global exposure to a mixture of asset classes. The Fund can also invest directly into transferable securities, money market instruments, cash and deposits, and is also able to use derivatives for efficient portfolio management and investment purposes.
Holding %
Fidelity MoneyBuilder Income 9.25 %
Fidelity Global Enhanced Income W Mlthly 6.80 %
Fidelity Extra Income Net Y 6.18 %
Fidelity US High Yield A-MD-USD 5.91 %
Fidelity Global Dividend W Inc Mlthly 5.68 %
Fidelity Asian High Yield A-MD-USD 5.64 %
Fidelity Enhanced Income W Inc Monthly 5.47 %
Fidelity Instl UK Aggt Bd Acc 5.35 %
Fid Ilf Gbp Fund C Acc 5.23 %
Fidelity Global Hybrids Bond Y-Dis-USD 3.66 %
Region %
United States 31.57 %
United Kingdom 30.59 %
Eurozone 20.67 %
Europe - ex Euro 7.46 %
Sector %
Financial Services 28.28 %
Consumer Defensive 12.81 %
Healthcare 11.46 %
Energy 10.39 %
Technology 7.85 %
Consumer Cyclical 7.53 %
Industrials 7.07 %
Utilities 5.90 %
Name
Fidelity (FIL Investment SVCS (UK) Ltd)
Address
TN11 9DZ, Hildenborough Kent, United Kingdom
UCITS
No
Legal Structure
Open Ended Investment Company

Managers

Chris Forgan
Joined 03/30/2018

Chris Forgan is a Portfolio Manager at Fidelity Multi Asset. Chris has 20 years of investment experience and joined Fidelity in 2017. Prior to joining Fidelity, Chris was a Portfolio Manager at Henderson Global Investors, in their Multi Asset team focusing on their income fund range. Previously Chris worked as an analyst at Henderson Global Investors, a senior performance analyst at First State Investments and began his career on the trading floor at Deutsche Morgan Grenfell. Chris has an BA (Hons) Marketing Administration from the University of Northumbria.

Eugene Philalithis
Joined 04/30/2013

Eugene Philalithis joined Fidelity in 2007 as a Portfolio Manager, with a focus on fixed income and alternatives. Eugene manages a number of multi asset funds with internal and open architecture for both retail and institutional clients. He has currently 17 years of investment experience which includes Russell Investment in London and Canadian Imperial Bank of Commerce in Singapore. Eugene has a Bachelor or Engineering and an MBA, both from Imperial College, London.

Data provided by Morningstar.

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