Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

You should not rely solely on the information contained on this webpage to make investment decisions. You should read carefully and understand the relevant fund's offering documents before making any investment decision.

LU2713343114
Fidelity Global Technology Fund CNY-Hedged

Equities
Technology
Global
CNY Cash
Accumulating

Invest with

CNY Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Fund aims to provide investors with long-term capital growth, principally through investment in the equity securities of companies throughout the world that have, or will, develop products, processes or services that will provide, or will benefit...

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

A contrarian technology fund with focus on more value stocks, rather than the mainstream high-growth and high-momentum part of the market. Offers a balanced exposure into Core and Opportunistic companies across various market caps, geographies, and sectors, including private companies, to allocate into established leaders and emergent companies. One of the oldest technology funds in the market, incepted in 1999 and having experienced multiple market cycles in its lifetime, including the Dot-com bubble.

People

Managed by a highly experienced PM and team that implement a disciplined top-down, bottom-up process to cover a vast universe of opportunities. The team, based in San Francisco, has good access to emerging and established technology companies, as well as the latest developments in the tech scene given their proximity to Silicon Valley.

Performance

Strong and reliable returns throughout its long lifetime. Favourable up-capture during bull markets, typically outperforming the broader MSCI ACWI/IT index. Highly defensive during down markets, with a track record of significantly outperforming its benchmark and peers during notable market crisis including the Dot-com bubble, 2020 March COVID-19 drawdown, and 2022 high-inflation environment.

Process

Disciplined top-down, bottom-up process to cover a vast universe of tech opportunities in the most effective and long-term oriented manner, defined by proprietary taxonomy.

Cost

Clean retail share class with no trailer fees to achieve the lowest cost of access for retail investors.

How it fits in a portfolio

The Fund, due to its contrarian approach to tech investing, is a good diversifier especially when used in tandem with other conventional high-growth, high-momentum technology funds. Investors should note that, over the short term, the Fund may experience some volatility due to its exposure to smaller cap holdings across the world, although over the longer economic cycle (3 to 5 years), the Fund has demonstrated favourable returns with unparalleled drawdown control during market downturns.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

44.15%

YTD

2.40%

1 month

2.40%

6 month

12.26%

1 year

18.23%

As of Jan 2026

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Risk metrics

Max drawdown

-9.83%As of Jan 2026

Volatility

11.70%As of Jan 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	2.4%	-	-	-	-	-	-	-	-	-	-	-
2025	19.7%	3.7%	-2.5%	-6.5%	-1.1%	7.3%	6.3%	2.4%	0.5%	5.9%	4.1%	-3.6%	2.6%
2024	-	0.4%	3.9%	2.9%	-2.5%	2.2%	5.8%	0.5%	-0.4%	1.5%	-0.2%	2.9%	-0.4%
2023	-	-	-	-	-	-	-	-	-	-	-	-	0.0%

Top Exposures

Holdings

Regions

Sectors

Taiwan Semiconductor Manufacturing Co Ltd	8.20%
Microsoft Corp	5.55%
Apple Inc	4.81%
Alphabet Inc Class A	4.49%
Amazon.com Inc	3.71%
Telefonaktiebolaget L M Ericsson Class B	2.73%
Accenture PLC Class A	2.53%
ASML Holding NV	2.44%
Salesforce Inc	2.25%
Texas Instruments Inc	2.15%
Oracle Corp	2.02%
Microchip Technology Inc	1.79%
BE Semiconductor Industries NV	1.72%
ASM International NV	1.62%
Intuit Inc	1.60%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

1.50%1.00% p.a.

Save 33%

Fund facts

ISIN

LU2713343114

Fund house

Fidelity

Fund size

CN¥33.3B

As of 31 Dec 2025

Fund inception date

13 Dec 2023

Fund class currency

CNY

Fund share class

A-ACC-RMB (hedged)

Oldest share class ISIN

LU0099574567

Oldest share inception date

01 Sep 1999

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

Opinions Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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Product Risk Rating Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

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LU2713343114Fidelity Global Technology Fund CNY-Hedged

LU2713343114
Fidelity Global Technology Fund CNY-Hedged