Fidelity Index Pacific ex Japan P

Tracking performance of the MSCI Pacific ex Japan Index.

  • 132.16p
    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.

  • 185.15p
    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?

  • 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!

  • 0.13%
    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).

  • 0.13%
    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.

  • 2.20%
    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…

Prices as at 09 April 2021

The fund’s investment objective is to achieve long term capital growth by closely matching the performance of the MSCI Pacific ex Japan index. The MSCI Pacific ex Japan Index captures large and mid cap representation across developed countries in the Pacific region (excluding Japan). With 143 constituents, the index covers approximately 85% of the free float-adjusted market capitalisation in each country. This fund does not engage in securities lending.

Fund summary

Sector Asia Pacific Excluding Japan
Structure OEIC
Launched February, 2014
Size £517m
Yield 2.20%
Charging basis
Dividends paid 18 Jan, 18 Apr, 18 Jul, 18 Oct

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.13%
Ongoing charges figure 0.13%

Allocation

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Investment process

The fund's investment objective is to provide long term capital growth by matching the capital performance of MSCI Pacific ex Japan index. The fund uses a physical replication method which means the underlying index securities are purchased directly to provide investors access to the market. Though primarily an equity fund, the managers will also use futures (with the total futures exposure likely to be in the range of 1-4%), a type of derivative which provides liquid exposure to the whole of the index. These are used to manage cash balances in the fund - by buying and selling futures the manager can regulate market exposure in response to inflows and outflows without the costs involved in trading all of the shares in the portfolio. This fund doe not engage ion securities lending.

This fund provides a simple, low cost way of investing in the Pacific region, excluding Japan. This tracker does conduct any stock lending and therefore does not expose investors to counterparty risk. The product is competitively priced, although investors should be aware that trackers by their very nature will underperform the index due to costs.

Manager research

Average monthly relative returns

  • 16/17 0.03%
  • 17/18 -0.22%
  • 18/19 0.03%
  • 19/20 0.22%
  • 20/21 -0.34%

Bestinvest MRI

  • 3 years -0.03%
  • 5 years -0.06%
  • Career -0.05%
  • 3 years 46.40%
  • 5 years 38.20%
  • Career 36.70%

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

Geode Capital Management

Geode Capital Management was founded in 2001 as a unit of Fidelity Investments, with the aim of developing systematic investment strategies. It became a standalone company in 2003. The company is based in Boston, and is privately held with an independent board.

Track record

Geode Capital Management has 8.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.05%. During the worst period of relative performance (from July 2014 - December 2020) there was a decline of 7% relative to the index. The worst absolute loss has been 15%.

Periods of worst performance

Absolute -15.00% (January 2020 - March 2020)
Relative -7.00% (July 2014 - December 2020)

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.

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Top 10 holdings

Data accurate as at 31 July 2020

7% Aia Group Ltd
5.8% Australia (Commonwealth Bank Of)
5.6% Csl
5% Bhp Group Ltd
3.7% Hong Kong Exchanges & Clearing
2.8% Westpac Banking Corp
2.6% National Australia Bank Ltd
2.4% Wesfarmers
2.3% Australia & New Zealand Bkg Grp
2.2% Woolworths Group Ltd
Source: Trustnet

Sector breakdown

Financials 36.00%
Materials 12.00%
Real Estate 12.00%
Health Care 9.00%
Industrials 8.00%
Consumer Discretionary 6.00%
Consumer Staples 6.00%
Utilities 4.00%
Communications 3.00%
Energy 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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