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Fidelity Market Neutral Alternative Fund

Fund code: 2139

  • NAV
    $8.67 $0.06 / 0.72%
    24-Jun-2022
  • Inception 16-Oct-2020
  • Benchmark FTSE Canada 91 Day T-Bill Index
  • Aggregate exposure
    Long 89.6%
    Short -88.7%
    Net 0.9%
    Cash 99.1%
    30-Apr-2022
  • Aggregate assets
    (all series)
    $57.7M
    31-May-2022
  • MER 2.67%
    31-Dec-2021
  • Distributions Annually
  • Morningstar category Alternative Market Neutral
  • Also available through: Trust US$
  • Get Fund Facts

End investment

Annualized return

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Start NAV

$10.0000

End NAV

$10.4031
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Calendar returns†† (%) 31-May-2022

YTD 2022 2021
Fund -1.11 -7.17

Standard period returns†† (%) 31-May-2022

1 mo 3 mo 6 mo 1 yr Inception
Fund -3.23 -0.72 0.16 0.21 -7.52

Why invest in this fund?

  • Portfolio diversifier with respect to traditional asset classes
  • Potential for downside protection in times of market stress
  • Seeks to capture alternative sources of alpha

Risk measures

Risk measures cannot be calculated on funds that are less than three years old. This fund does not yet meet the required criteria.

Risk classification

  1. Low
  2. Low to medium
  3. Medium
  4. Medium to high
  5. High

This fund has a low to medium volatility rating

Allocation

Asset mix (%)

30-Apr-2022
Long Short Net
Canadian Equities 39.3 -29.6 9.7
Foreign Equities 50.3 -59.1 -8.8
Cash & Other 102.4 -3.3 99.1

Country mix (%)

30-Apr-2022
Long Short Net
Canada 38.8 -29.2 9.6
Netherlands - -0.4 -0.4
Switzerland - -0.5 -0.5
China - -0.8 -0.8
Germany - -1.5 -1.5
United States 51.9 -59.6 -7.8
Cash & Net Other Assets 101.4 - 101.4

Sector mix (%)

30-Apr-2022
Long Short Net
Information Technology 27.0 -22.4 4.6
Consumer Disc. 12.8 -9.0 3.9
Communication Services 4.4 -2.3 2.1
Energy 4.5 -3.8 0.7
Health Care 10.9 -11.6 -0.6
Industrials 25.6 -26.9 -1.3
Financials 2.2 -3.9 -1.7
Consumer Staples 2.2 -4.8 -2.6

Top ten holdings

LONG

  1. Microsoft
  2. SPS COMMERCE INC
  3. Rogers Communication, Cl. B, Non Vtg
  4. AbbVie
  5. Raytheon Technologies
  6. Canadian Pacific Railway
  7. WSP GLOBAL INC
  8. CGI INC CL A SUB VTG
  9. McKesson Corp.
Top ten long holdings aggregate 29.4%

SHORT

  1. Canadian National Railway
Top ten short holdings aggregate -2.6%
Top ten holdings aggregate 26.8%
Total number of holdings 163

LONG

  1. Microsoft
  2. SPS COMMERCE INC
  3. Rogers Communication, Cl. B, Non Vtg
  4. Canadian Pacific Railway
  5. AbbVie
  6. Raytheon Technologies
  7. WSP GLOBAL INC
  8. Thermo Fisher Scientific
  9. CGI INC CL A SUB VTG
  10. TFI International
Top ten long holdings aggregate 32.0%
Top ten short holdings aggregate 0.0%
Top ten holdings aggregate 32.0%
Total number of holdings 145

LONG

  1. SPS COMMERCE INC
  2. Microsoft
  3. Canadian Pacific Railway
  4. Alimentation Couche-Tard, Cl. B, Sub Vtg
  5. Raytheon Technologies
  6. CANADIAN TIR LT A PH DELIVEREY
  7. PayPal
  8. WASTE CONNECTIONS INC
Top ten long holdings aggregate 27.5%

SHORT

  1. WASTE MANAGEMENT INC
  2. WESTINGHOUSE AIR BRAKE TEC CRP
Top ten short holdings aggregate -5.8%
Top ten holdings aggregate 21.7%
Total number of holdings 136

LONG

  1. Canadian Pacific Railway
  2. Microsoft
  3. Raytheon Technologies
  4. Rogers Communication, Cl. B, Non Vtg
  5. SPS COMMERCE INC
  6. CANADIAN TIR LT A PH DELIVEREY
  7. Alimentation Couche-Tard, Cl. B, Sub Vtg
  8. AbbVie
  9. CGI INC CL A SUB VTG
Top ten long holdings aggregate 30.4%

SHORT

  1. Canadian National Railway
Top ten short holdings aggregate -3.6%
Top ten holdings aggregate 26.9%
Total number of holdings 136
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