A diversified and concentrated portfolio of 20-40 Australian high-quality stocks
Uses a bottom-up research approach to invest in companies with a sustainable competitive advantage, strong pricing market power, supportive industry structure, and strong management quality.
Strong risk management is at the core of our investment approach
A 'best ideas' concentrated portfolio, with a strong focus on risk management
A diversified fund of some of Australia's most promising companies
Access to our 20+ years' expertise investing in the Australian market
Casey McLean, Portfolio Manager of the Fidelity Australian High Conviction Fund talks about how he became interested in investing and what excites him about managing a concentrated portfolio of Australian stocks.
Portfolio Manager, Casey McLean, talks about what the Fidelity Australian High Conviction Fund offers investors and explains his investment philosophy and process.
Want to stay up to date with the latest from the Fidelity Australian High Conviction Fund? Join Portfolio Manager, Casey McLean as he provides a short quarterly update covering:
You can get more information about the Fund's top holdings here.
See for yourself how the fund has performed since inception. The chart below represents the value now of $10,000 invested in the Fidelity Australian High Conviction Fund in July 2012 compared with $10,000 invested in the S&P/ ASX 200 Accumulation Index.
Chart as at: 31 May 2024
Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. Benchmark: S&P ASX 200 Accumulation Index.
Net returns as at 31 May 2024
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
Since inception (31/07/12) % pa |
|---|---|---|---|---|---|---|
| Fund | 12.28 | 4.80 | 6.82 | 8.10 | 8.47 | 10.35 |
| Benchmark | 12.93 | 6.80 | 7.83 | 8.54 | 7.78 | 9.63 |
| Active return | -0.65 | -2.00 | -1.01 | -0.44 | 0.69 | 0.72 |
Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. Benchmark: S&P ASX 200 Accumulation Index.
Net as at 31 May 2024
| 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
Since inception (31/07/12) % pa |
|
|---|---|---|---|---|---|---|
| Total return | 12.28 | 4.80 | 6.82 | 8.10 | 8.47 | 10.35 |
| Growth | 7.26 | 0.98 | 3.63 | 5.12 | 4.56 | 6.46 |
| Income | 5.02 | 3.82 | 3.20 | 2.98 | 3.91 | 3.89 |
Growth return is the unit price movement on exit to exit basis. Income is expressed as Total Return less growth component.
Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. Benchmark: S&P ASX 200 Accumulation Index.
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 28-Mar-24 | 1.6621 | $21.6956 |
CPU = cents per unit. The above cash CPU excludes imputation credits and foreign income tax offsets which are non-cash components and are reported in the end of year tax statement. If the Distribution CPU column is 0.0000 it means that nothing was distributed.
As at 31 May 2024
As at 31 May 2024
| % total net assets | |
|---|---|
| CSL LTD | 11.0% |
| BHP GROUP LTD | 9.6% |
| NATIONAL AUSTRALIA BANK LTD | 9.3% |
| GOODMAN GROUP | 6.6% |
| WOODSIDE ENERGY GROUP LTD | 6.0% |
| COMMONWEALTH BANK AUSTRALIA | 5.9% |
| MACQUARIE GROUP LTD | 5.3% |
| QBE INS GROUP LTD | 3.8% |
| ARISTOCRAT LEISURE LTD | 3.7% |
| CAR GROUP LTD | 3.3% |
As at 31 May 2024
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| CSL LTD | 11.0 | 5.9 | 5.1 |
| NATIONAL AUSTRALIA BANK LTD | 9.3 | 4.6 | 4.7 |
| GOODMAN GROUP | 6.6 | 2.5 | 4.1 |
| WOODSIDE ENERGY GROUP LTD | 6.0 | 2.3 | 3.7 |
| CAR GROUP LTD | 3.3 | 0.6 | 2.7 |
As at 31 May 2024
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| WESTPAC BANKING CORP | 0.0 | 4.0 | -4.0 |
| ANZ GROUP HOLDINGS LTD | 0.0 | 3.7 | -3.7 |
| WESFARMERS LTD | 0.0 | 3.2 | -3.2 |
| COMMONWEALTH BANK AUSTRALIA | 5.9 | 8.7 | -2.9 |
| RIO TINTO LTD | 0.0 | 2.1 | -2.1 |
| Organisation | Rating / Recommendation |
|---|---|
| Lonsec |
Investment grade4
The Lonsec report is only available to financial advisers, please contact us for a copy |
| Morningstar | Neutral5 |
| Zenith | Approved6 |
This Fund is subject to the risk of stock market fluctuations. Investors accessing the Fund through a master trust or wrap account will also bear any fees charged by the operator of such master trust or wrap account. Any apparent discrepancies in the numbers are due to rounding.
1Management costs and buy/sell spread are current as at the date of publication of this website. These fees may be subject to change in the future.
2Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax. Returns of more than one year are annualised. The return of capital is not guaranteed.
