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Fidelity Global Dividend Class W - Accumulation (GBP)

Sell:278.30p Buy:278.30p Change: 1.30p (0.47%)
Prices as at 22 October 2021
Sell:278.30p
Buy:278.30p
Change: 1.30p (0.47%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 22 October 2021
Sell:278.30p
Buy:278.30p
Change: 1.30p (0.47%)
Prices as at 22 October 2021
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

Daniel Roberts' unconstrained approach allows him to invest anywhere in the world, but he tends to favour large companies from developed markets. He won't compromise on quality and is mindful of valuation. Fidelity Global Dividend could provide international diversification to an income-focused portfolio and work well alongside 'growth' orientated funds.

We like the manager's sensible, valuation-conscious approach which focuses on capital preservation.

Our view on the sector

Equity income funds are popular with investors. Most try to generate a rising income, and increase the value of your original investment, over the long term. The income can be paid out, or reinvested to boost long-term growth. Equity income funds have traditionally focused on the UK, and there's still a strong case for UK equity income. But there's a growing case for investing globally for income too. The number of companies outside the UK offering high and rising dividends has increased rapidly. And exposure to foreign currencies will boost returns if sterling weakens, like it did after the UK voted to leave the European Union in 2016, but the reverse is true if sterling strengthens.

Performance Analysis

Over the long term Roberts has delivered strong results. He's has achieved this through one of the best stock-picking records in the sector according to our analysis, and by investing fairly conservatively. So while he's usually not quite kept up when markets have risen, he's held up much better when they've fallen. We'd expect Roberts' approach to keep delivering good long-term results, although there are no guarantees.

Investment Philosophy

Roberts looks for companies that can sustainably grow their dividends over many years. That's more important to him than what a company's yield is. He's a reasonably conservative investor, and places more importance on sheltering investors' capital than growing it.

Process and Portfolio Construction

Roberts' approach focuses on individual company analysis, paying close attention to their financial accounts to ensure the company dividends are sustainable. He also assesses how a company has fared during different market conditions, looking to identify predictable revenue streams and resilience. The manager favours companies with simple business models, sensible management teams and healthy balance sheets whilst avoiding companies with too much debt.

The process whittles down a universe of 3,000 companies to a portfolio of between 40-60 holdings. There are around 45 in the fund. These tend to be larger companies, at a size of $5bn and above. European companies make up around 40% of the fund, which includes exposure to areas like the UK, Switzerland and Germany. Just under a third is invested in the US, but this is much less than the benchmark. Roberts also invests in higher-risk smaller companies and emerging markets. There's a broad range of themes in the fund with most of the fund invested in more defensive sectors like consumer staples and pharmaceuticals.

Please note charges can be taken from capital, which can increase the yield but reduces the potential for capital growth. Roberts also has the flexibility to use derivatives which if used adds risk.

question mark Manager Track Record Based on HL Quantitative Research

This information is currently unavailable.

Fund Track Record

21/10/16 to 21/10/17 21/10/17 to 21/10/18 21/10/18 to 21/10/19 21/10/19 to 21/10/20 21/10/20 to 21/10/21
Annual return 7.15% 1.42% 15.54% 5.78% 9.78%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Information about the fund

Fund manager biography

manager photo
Manager Name: Daniel Roberts
Manager start date: 31 January 2012
Manager located in: London

Daniel Roberts joined Fidelity Worldwide Investment in November 2011as a global equity income portfolio manager and brings with him over 10 years investment experience. Prior to joining Fidelity, Daniel specialised in UK equity income portfolios. After working in the finance industry for seven years, Daniel started managing portfolios at Invesco in London, where he was an institutional portfolio manager. He joined Aviva in 2003 and worked on the Aviva UK equity Income portfolio, Aviva Distribution Fund and RBS Income funds. In 2009, Daniel joined Gartmore to manage their UK Equity Income Fund and ran the portfolio until the company was acquired and restructured by Henderson. Daniel holds a BSc (HoNours) in Mathematics from Warwick University and the UKSIP Investment Management Certificate. He is a Chartered Accountant and a CFA charterholder. He is also a member of the Institute of Chartered Accountants, Association for Investment Management & Research and the UK Society of Investment Professionals

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account