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European Smaller Companies Fund A-Acc-Usd pro.en.xx.20210831.LU0997586788.pdf European Smaller Companies Fund A-ACC-USD (hedged) For Investment Professionals Only FIDELITY FUNDS MONTHLY PROFESSIONAL FACTSHEET EUROPEAN SMALLER COMPANIES FUND A-ACC-USD (HEDGED) 31 AUGUST 2021 Strategy Fund Facts The fund aims to provide long-term capital growth from an actively managed portfolio Launch date: 01.12.95 consisting of smaller and medium-sized European companies. The portfolio managers Portfolio manager: Jim Maun, Joseph Edwards use bottom-up analysis to select companies with attractive growth characteristics, Appointed to fund: 01.04.18, 01.07.19 above average returns, strong balance sheets and conservative accounting policies. Years at Fidelity: 21, 10 Sustainability analysis is integrated in the investment process but ESG risks do not Fund size: $1,875m necessarily prevent the managers from making an investment. Portfolio holdings will Number of positions in fund*: 169 generally fall into an underlying theme that shows structural growth. Examples include Fund reference currency: Euro (EUR) internet companies, technology, healthcare and outsourcing. The managers place great Fund domicile: Luxembourg emphasis on Fidelity’s in-house research. Fund legal structure: SICAV Management company: FIL Investment Management (Luxembourg) S.A. Capital guarantee: No Portfolio Turnover Cost (PTC): 0.17% Portfolio Turnover Rate (PTR): 91.30% *A definition of positions can be found on page 3 of this factsheet in the section titled “How data is calculated and presented.” Objectives & Investment Policy Share Class Facts • The fund aims to provide long-term capital growth with the level of income expected to be low. Other share classes may be available. Please refer to the prospectus for more details. • The fund will invest at least 70% in shares of small and medium sized European companies. • The fund has the freedom to invest outside its principal geographies, market sectors, industries or asset classes. Launch date: 10.01.14 • Currency hedging is used to substantially reduce the risk of losses from unfavourable exchange NAV price in share class currency: 24.81 rate movements. Currency look-through hedging is used to hedge the underlying currency effects at the security level to that of the hedged share class reference currency, thereby delivering the ISIN: LU0997586788 underlying market returns. SEDOL: BH2R063 • The fund may invest in assets directly or achieve exposure indirectly through other eligible means including derivatives. The fund can use derivatives with the aim of risk or cost reduction or to Bloomberg: FFESAUH LX generate additional capital or income, including for investment purposes, in line with the fund’s risk Dealing cut-off: 15:00 UK time (normally 16:00 Central European Time) profile. • The fund is actively managed. The Investment Manager will, when selecting investments for the Distribution type: Accumulating fund and for the purposes of monitoring risk, reference EMIX Smaller European Companies Index Ongoing Charges Figure (OCF) per year: 1.91% (30.04.21) (Gross) Hedged to USD (the “Index”). The fund’s performance can be assessed against its Index. The Investment Manager has a wide range of discretion relative to the Index. While the fund will OCF takes into account annual management charge per year: 1.50% hold assets that are components of the Index, it may also invest in companies, countries or sectors that are not included in, and that have different weightings from, the Index in order to take advantage of investment opportunities. • Income earned by the fund is accumulated in the share price. Share Class Risk and Reward Profile • Shares can usually be bought and sold each business day of the fund. • This fund will no longer be eligible for the French PEA (Plan d'Epargne en Actions) tax wrapper after the 30 September 2021. This risk indicator is taken from the key information document at the relevant month- end. Because it may be updated during a month, please refer to the key information Independent Assessment document for the most up-to-date information. Information in this section is the latest available at date of publication. Further details can be found in the Glossary section of this factsheet. As some ratings agencies may use past performance to produce their assessments, these are not a reliable indicator of future results. Scope Rating: (B) • The risk category was calculated using historical performance data. • The risk category may not be a reliable indication of the future risk profile of the fund, is not guaranteed and may change over time. • The lowest category does not mean a "risk free" investment. • The risk and reward profile is classified by the level of historical fluctuation of the Net Asset Values of the share class, and within this classification, categories 1-2 indicate a low level of historical fluctuations, 3-5 a medium level and 6-7 a high level. Important Information The value of investments and any income from them may go down as well as up and an investor may not get back the amount invested. The use of financial derivative instruments may result in increased gains or losses within the fund. This fund invests more heavily than others in smaller companies, which can carry a higher risk because their share prices may be more volatile than those of larger companies. Liquidity is a measure of how easily an investment can be converted into cash. Under certain market conditions assets may be difficult to sell. pro.en.xx.20210831.LU0997586788.pdf FIDELITY FUNDS MONTHLY PROFESSIONAL FACTSHEET EUROPEAN SMALLER COMPANIES FUND A-ACC-USD (HEDGED) 31 AUGUST 2021 Past performance is not a reliable indicator of future results. Currency hedging is used to substantially reduce the effect of currency exchange rate fluctuations on undesired currency exposures. There can be no assurance that the currency hedging employed will be successful. Hedging also has the effect of limiting the potential for currency gains to be made. Performance Comparator(s) Market index from 10.01.14 EMIX Smaller European Companies Index (Gross) Hedged to USD Market index is for comparative purposes only unless specifically referenced in the Objectives & Investment Policy on page 1. The same index is used in the positioning tables on this factsheet. Where the effective date for the current market index is after the share class launch date, full history is available from Fidelity. Cumulative performance in USD (rebased to 100) Performance for 12 month periods in USD (%) Fund Index Fund Index Performance is shown for the last five years (or since launch for funds launched within that period). Performance for calendar years in USD (%) Volatility & Risk (3 years) Annualised Volatility: fund (%) 22.16 Annualised Alpha -2.50 Relative Volatility 1.10 Beta 1.09 Sharpe Ratio: fund 0.56 Annualised Tracking Error (%) 4.37 Sharpe Ratio: index 0.71 Information Ratio -0.42 R2 0.97 Calculated using month-end data points. Definitions of these terms can be found in the Glossary section of this factsheet. Fund Index Performance to 31.08.21 in USD (%) Since 1m 3m YTD 1yr 3yr 5yr 10.01.14* Fund cumulative growth 3.0 5.8 25.1 44.6 46.5 104.0 148.1 Index cumulative growth 3.4 6.2 22.8 45.4 53.7 108.4 156.4 Fund annualised growth - - - 44.6 13.6 15.3 12.6 Index annualised growth - - - 45.4 15.4 15.8 13.1 Ranking within Peer Group Universe - - - - - - Total number of funds - - - - - - Quartile ranking** - - - - - - Source of fund performance and volatility and risk measures is Fidelity. Performance is excluding initial charge. Basis: nav-nav with income reinvested, in USD, net of fees. Market indices are sourced from RIMES and other data is sourced from third-party providers such as Morningstar. *Performance commencement date. **Quartile rank is for the fund's primary share class as identified by Morningstar, which may be different than the share class detailed in this factsheet and refers to performance over time rated on a scale of 1-4. A ranking of 1 indicates that the item being ranked is in the top 25% of the sample and so on. Rankings are based on a performance record that is included in the Peer Group Universe. In line with Investment Association methodology, this record may include a track record extension from a legacy share class and the record may not be the same class of this factsheet. Quartile ranking is an internal Fidelity International calculation. Ranking may vary by share class. If you took an initial charge of 5.25% from an investment, this is the equivalent of reducing a growth rate of 6% per annum over 5 years to 4.9%. This is the highest initial charge applicable, if the initial charge you pay is less than 5.25%, the impact on the overall performance will be less. 2 pro.en.xx.20210831.LU0997586788.pdf FIDELITY FUNDS MONTHLY PROFESSIONAL FACTSHEET EUROPEAN SMALLER COMPANIES FUND A-ACC-USD (HEDGED) 31 AUGUST 2021 Introduction How data is calculated and presented This factsheet contains information about the composition of the fund at a Portfolio composition data has been calculated and presented particular point in time. It aims to help you understand how the fund according to several general principles, which are listed below. manager is positioned to achieve the fund’s objectives. - Aggregation: all investments, including derivatives, linked to a The Equity Exposure table below provides an overall view of the fund. This particular issuing company have been combined to form a total represents - in percentage terms - how much of the fund is invested in the percentage holding for each company. The aggregate holding is market. The higher the figure, the more the fund will take part in any referred to in this factsheet as a position.
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