Fidelity Tactical High Income Currency Neutral Fund

Investment Strategy

Fidelity Tactical High Income Fund offers investors the potential for income and capital growth through investments across a broad spectrum of income-producing securities.

Currency Neutral Funds use derivatives to mitigate the Fund's exposure to changes in exchange rates between developed market currencies and the Canadian dollar. The investment approach used by the Funds, while effective in reducing exchange rate risk, will not completely eliminate the impact of currency fluctuations. The Fund's returns will differ from the local currency returns of its underlying fund.

Performance

Performance for this series is not available at this time.

Performance

Annual compound performance – as at 31-May-2017

PERIOD Fund
1 month -0.36% 4
3 month -0.60% 4
6 month 2.70% 4
1 year 6.17% 4
2 year 2.86% 3
3 year 3.53% 3
5 year
7 year
10 year
YTD 1.41% 4
Since Inception 3.53%

Calendar year performance – as at 31-May-2017

Calendar year performance – as at 31-May-2017

Growth of $10,000 since inception³ – as at 31-May-2017

Growth of $10,000 since inception³ – as at 31-May-2017
Fund risk measures – as at 31-May-2017
  Fund
Annual Standard Deviation 6.11
Beta 1.02
0.78

Risk measures are based on 3-year net returns (series B). (All returns are calculated in Canadian currency.) 

Volatility meter

Low to Medium

A fund’s volatility is determined using a statistical measure called “standard deviation". Standard deviation measures the amount of variability of returns that has historically occurred relative to the average return. The higher the standard deviation of a fund, the greater the range of returns it has experienced in the past. Other types of risk, both measurable and non-measurable, exist. In addition, just as historical performance may not be indicative of future returns, a fund’s historical volatility may not be indicative of its future volatility.

Fund facts

NAVPU – Series B

$10.35 – as at 21-Jun-2017

Series inception date

28-May-2014

Fund benchmark

None

Fund aggregate assets (all series)

$82.3 million
as at 31-May-2017

Management expense ratio - Series B

2.23% – as at 30-Sep-2016

 
Quarterly Top Ten Holdings
GENERAL ELECTRIC 5.0%/VAR PERP  
USTB 3% 02/15/47  
Apple  
USTB 2.5% 2/15/46  
AT&T  
SPRINT CAP CORP 8.75% 3/15/32  
Cisco Systems  
BRAZIL GLBL 8.25% 1/20/34  
FORMULA ONE TERM B EXT 2/1/24  
TWITTER INC CONV 1% 09/15/21  
Total number of holdings 145
Top 10 holdings aggregate 22.3%
Allocation to funds

Asset Mix
as at 30-Apr-2017

  Current monthLast monthTwo months ago
Foreign Equities 34.6%34.7%36.8%
Foreign Bonds 22.8%24.5%28.6%
High Yield Bonds 20.0%17.7%15.6%
Convertibles 4.4%6.6%9.1%
Other Investments 0.9%0.0%0.0%
Cash & Other 17.2%14.8%8.4%
Canadian Equities 1.6%1.5%

Top historical sector mix (%)
as at 30-Apr-2017

Sovereign debt 12.5%13.4%19.4%
Technology 9.2%10.2%9.8%
Food/Beverage/Tobacco 7.4%6.2%5.7%
Banks & Thrifts 5.8%5.2%6.2%
Food & Drug Retail 5.4%4.8%3.9%
Capital Goods 5.1%4.6%4.5%
Telecommunications 4.1%5.0%4.5%
Super Retail 3.4%3.4%4.9%
Services 3.2%
Health Care 3.1%4.1%4.8%
Broadcasting 3.3%
Energy 3.6%
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