fund
Fidelity Funds India Focus Y GBP
Single country India fund with a bias to medium sized companies.
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319.30p
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.
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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?
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0.00%
Initial chargeSome 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!
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0.80%
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).
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1.10%
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.
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0.20%
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…
Fidelity Focus India is a single country specialist fund that distinguishes itself from the peer group due to its bias to mid cap investing. Fidelity are interested in identifying the winners of tomorrow, through a locally based team that undertake numerous company visits. This portfolio should appeal to those investors who are prepared to invest within and stay invested within India.
Fund summary
| Sector | Specialist |
| Structure | OFFSHORE FUND |
| Launched | October, 2009 |
| Size | £1,405m |
| Yield | 0.20% |
| Charging basis | |
| Dividends paid | August |
Charges
| Standard initial charge | 0.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.80% |
| Ongoing charges figure | 1.10% |
Allocation
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Investment process
This fund invests primarily in Indian equities, although it can invest within foreign companies as long as they derive the majority of their earnings from India. Fidelity are known for their bottom up approach to investing and this fund is no exception. In depth analysis of companies underlies stock selection and Fidelity make use of their locally based team. Valuations are a consideration although the manager is also very focused on the potential growth opportunities created by Indian economic growth. The index is of little relevance to this fund, therefore all stocks within the portfolio should be considered to be high conviction ideas. The fund is typically biased towards small and mid sized companies.
Manager research
Average monthly relative returns
- 16/17 0.00%
- 17/18 0.00%
- 18/19 0.00%
- 19/20 0.00%
- 20/21 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.
Tim Orchard
Born 1969. Cambridge Economics degree. Joined Mercury in 1992 as a graduate trainee on the Japanese team. Moved to Tokyo in 1995 where he was a senior member of the 18-strong team which also provided the local presence for Mercury's London team. Orchard moved to Singapore in 2001 to become a portfolio manager for Merrill Lynch before moving to Sydney in 2002 to become a partner/fund manager at Free Spirit Advisors. Orchard joined Fidelity in 2008, firstly as Head of Equities in Tokyo before moving to Hong Kong in 2010 as Head of Equities Asia ex Japan.
Track record
The track record of Tim Orchard in managing mutual funds in this sector is still too short for us to draw any meaningful conclusions and so our assessment is based largely on qualitative aspects.
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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Portfolio
Around 60-80 stocks are held. The fund has historically been biased to small and mid sized companies.
Constraints
Unconstrained portfolio. Active positions are usually limited to +/-4%.
Key Investor Information