fund

Rated

This is one of our rated funds. They’re the ones our experts believe will do well for investors over the longer term. Top of the class!

Fidelity Index World P

Global equity tracker fund aiming to match the performance of the MSCI World index.

  • 189.19p
    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.

  • 221.80p
    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!

  • 0.12%
    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).

  • 0.12%
    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.

  • 1.60%
    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

This global equity tracker fund aims to achieve long-term capital growth by replicating the performance of the MSCI World index as closely as possible. The index consists of around 1600 mainly large and mid sized companies from 24 developed market countries. The fund follows a strategy known as "full replication", holding all of the stocks in the index at their index weight.

Fund summary

Sector Global
Structure OEIC
Launched March, 2014
Size £1,594m
Yield 1.60%
Charging basis Income
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 0.12%
Ongoing charges figure 0.12%

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Investment process

The fund aims to match the returns of the FTSE World index as closely as possible, with minimum tracking error. This index consists of around 1600 mainly large and mid sized companies from 24 developed market countries worldwide. To achieve its objective the fund follows a passive strategy, using full replication – it aims to hold all of the stocks in the index at their index weight. 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. Futures exposure is limited to 3% of the portfolio.

This fund provides low cost passive exposure to equities worldwide. The MSCI World index gives investors substantial diversification, though it has a high weighting to the USA (over 50%) due to the size of that country's listed sector. The MSCI World also lacks smaller companies and emerging market exposure. 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 -0.08%
  • 16/17 -0.04%
  • 17/18 -0.07%
  • 18/19 -0.01%
  • 19/20 -0.14%

Bestinvest MRI

  • 3 years -0.08%
  • 5 years -0.07%
  • Career -0.05%
  • 3 years 38.70%
  • 5 years 36.70%
  • Career 38.70%

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 7.9 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 - June 2020) there was a decline of 6% relative to the index. The worst absolute loss has been 15%.

Periods of worst performance

Absolute -15.00% (January 2020 - March 2020)
Relative -6.00% (July 2014 - June 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.

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Top 10 holdings

Data accurate as at 31 July 2020

4.2% Apple Inc
3.4% Microsoft Corp
3.1% Amazon.com Inc
2.1% Alphabet Inc
1.4% Facebook Inc
.9% Johnson & Johnson
.8% Nestle Sa
.7% Procter & Gamble Co
.7% Visa Inc
.7% Jpmorgan Chase & Co
Source: Trustnet

Sector breakdown

Information Technology 22.00%
Health Care 14.00%
Financials 12.00%
Consumer Discretionary 11.00%
Industrials 10.00%
Communications 9.00%
Consumer Staples 8.00%
Materials 4.00%
Utilities 3.00%
Energy 3.00%

Portfolio

Around 1600 stocks.

Key Investor Information - Income

Download

Key Investor Information - Accumulation

Download