Fidelity Extra Income A

  • 28.23p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 204.30p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 3.50% 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.25%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.46%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 2.70%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 23 November 2020, fund data last updated 15 June 2010

A hybrid bond portfolio investing in high yield and investment grade fixed interest securities. The aim is to provide an enhanced yield and superior risk adjusted total returns relative to pure investment grade corporate bond funds. The funds performance objective is to outperform both the peer group and the benchmark in the long run. The neutral asset allocation for the portfolio is 60% investment grade bonds and 40% high yield bonds. All non sterling currency exposure is hedged. Bonds issued by major governments and companies will be more stable than those issued by emerging markets or smaller corporate issuers; in the event of an issuer experiencing financial difficulty, there may be a risk to some or all of the capital invested. Any historical or current yields quoted should not be considered reliable indicators of future performance.

Fund summary

Sector £ Strategic Bond
Structure OEIC
Launched
Size £559m
Yield 2.70%
Charging basis Income
Dividends paid 25th day of each month

Charges

Standard initial charge 3.50%
Initial charge via Bestinvest 0.00%
Annual management charge 1.25%
Ongoing charges figure 1.46%

Allocation

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Investment process

The fund will invest primarily in sterling corporate and high yield bonds, in addition the fund may also include exposure to euro denominated corporate and high yield debt and US denominated high yield. For comparative purposes the fund's IA peer group is the Strategic Bond Sector, it's benchmark is 60% Merrill Lynch Euro Sterling, 25% Merrill Lynch Sterling High Yield and 15% Merrill Lynch Euro High Yield. Exposure to high yield is not fixed but will be managed within predefined bands according to the prevailing market conditions. By mixing the two asset classes the manager will seek to diversify risk. The intention is that the volatility of the fund will be managed not to exceed that of a pure corporate bond fund. Returns are anticipated to be driven primarily by asset allocation, credit strategies and stock selection. Duration management is not expected to be a major contributor to fund alpha.

The portfolio manager is one the most respected in the industry. He has a reputation as being one of the more conservative investors with a keen eye on risk and diversification at the portfolio level; these attributes were particularly evident in the recent credit crisis. He benefits from the resources and global reach of Fidelity International. His Strategic Bond Fund represents a more unconstrained version of this fund from an asset allocation perspective.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Sector breakdown

BBB 44.00%
BB 26.00%
B 10.00%
A 10.00%
Non-Rated 4.00%
AA 4.00%
CCC 1.00%
AAA 1.00%

Portfolio

Diversified portfolio. All non sterling currency exposure is hedged.

Key Investor Information - Income

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Key Investor Information - Accumulation

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