Fidelity Index UK A

  • 95.08p
    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.

  • -
    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!

  • 0.30%
    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).

  • 0.30%
    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.

  • 4.50%
    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 October 2020, fund data last updated 02 August 2011

This tracker fund aims to achieve long-term capital growth by replicating the performance of the FTSE All-Share index as closely as possible. This index comprises over 600 of the largest UK equities which together make up around 97% of the UK equity market by value. The fund pursues a policy known as "partial replication", holding all of the larger companies in the index but only a representative sample of the smaller stocks. The fund's Ongoing Charges Figure is very competitive.

Fund summary

Sector UK All Companies
Structure OEIC
Launched
Size £2,608m
Yield 4.50%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.30%
Ongoing charges figure 0.30%

Allocation

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Investment process

The fund aims to match the returns of the FTSE All-Share index as closely as possible, with minimum tracking error. This index is made up of the FTSE 100, the FTSE 250 and FTSE Small Cap indices - over 600 companies in total. To achieve the objective the fund manager uses a technique called "partial replication", holding all of the shares in the FTSE 350 (FTSE 100 + FTSE 250) but only a sample of the smaller companies. By using "optimised sampling" he aims to replicate the sector and market capitalisation balance of the FTSE Small Cap index and hence give similar performance characteristics, but to avoid the dealing costs involved in holding all of the smaller companies. Though primarily an equity fund, the manager will also use futures, 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. The fund is managed on a purely technical basis.

This fund provides low cost passive exposure to the UK equity market. The FTSE All-Share index gives investors substantial diversification including some international exposure, though it can be concentrated by company size - the multinationals of the FTSE 100 make up around 85% of the index. By using a tracker fund investors remove the possibility of underperformance, though conversely they miss out on the benefits of a successful active manager.

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

Financials 25.00%
Consumer Goods 16.00%
Industrials 12.00%
Health Care 12.00%
Consumer Services 12.00%
Basic Materials 9.00%
Oil & Gas 8.00%
Utilities 4.00%
Telecommunications 2.00%
Technology 1.00%

Portfolio

The fund holds around 600 securities, compared to around 630 in the FTSE All-Share Index. Typically 20-30% in index futures and a similar amount in cash.

Key Investor Information

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