LU2755903635
Fidelity Funds 2 - Global Discovery Fund SGD-Hedged

  • Equities
  • Global
  • SGD Cash
  • Accumulating
Invest with
SGD Cash
Payout type
Accumulating
Risk rating
6
About this fund
Description
The Fund aims to achieve capital growth over the long term. The fund will invest at least 70% of its assets in equities of companies of any capitalisation from anywhere in the world. The fund aims to invest in equities that the investment manager con...
Key information
Annual report
Product Highlight Sheet
Prospectus
Factsheet
Our perspective
Why we think this fund is best-in-class
product
Product
Strong value and quality focus with an opportunistic approach focused on companies across the market cap spectrum, including the small and mid-cap universe of stocks. The fund ‘s investment philosophy and process is based on one of Fidelity’s flagship strategies, which was launched in 1989 and has more than 37bn in assets.
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people
People
Portfolio managers Morgan Peck and Sam Chamovitz have more than 20 years of experience. They are supported by the broader equity research team of more than 140 analysts. Analysts are organised into 7 sectors and each will typically cover 1-3 sectors and 25-40 securities. This is particularly important as it allows them to cover and own smaller companies.Having a large analyst team as a resource is crucial in small cap investing as it is an inefficient segment of the market. Deep coverage is key to understanding both the opportunities and the risks associated with smaller companies.
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performance
Performance
The parent strategy was incepted in 1989 and has outperformed its benchmark since inception as their risk-averse approach with an emphasis on a margin of safety, has historically delivered lower absolute volatility and less downside risk. This has allowed the strategy to produce strong returns across all market cycles as the lower downside capture has helped the fund to compound its returns over the long term.The opportunistic nature has typically led to limited overlap with other strategies, offering potential diversification benefits.
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process
Process
Bottom up process that focuses on Global small and mid-cap companies below average valuation and above average quality. The team has a very strict valuation focus on profitable companies with stable profits, consistent free cash flow generation and high return on capital.The portfolio is segregated into 3 buckets: - Underappreciated compounders bucket that has the higher quality names and accounts for the majority of the portfolio - Special Situations bucket that contains the misunderstood and mispriced names that are facing transient issues - Tail bucket is an opportunistic alpha source with a wider range of possible outcomes. Resulting portfolio is one with between 400 to 650 holdings with holdings across all market capitalisation. The portfolio has an overweight to mid-cap holdings and the large number of holdings allows the fund to hold small uncovered companies.
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cost
Cost
Endowus offers retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access
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selectionCriteria
How it fits in a portfolio
Investors looking for exposure to small and mid cap quality global companies can consider an allocation to this fund. However, investors should note that due to the fund’s overweight to small and mid cap companies, the fund can undergo a prolonged period of underperformance in the short to medium term when small and mid cap companies are out of favour.Updated as of 2024/7/22
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Invest in this fund
Performance
Shows the total return of this accumulating fund, which includes dividends reinvested.
Total returns
All Time
6.62%
YTD
11.16%
1 month
3.59%
6 month
10.15%
1 year
4.38%
As of Aug 2025
Distributions
This is an accumulating fund, so dividends are re-invested at the fund level.
Risk metrics
Max drawdown
-8.98%As of Aug 2025
Volatility
11.86%As of Aug 2025
Calendar returns
YearTotalJanFebMarAprMayJunJulAugSepOctNovDec
2025-4.0%-2.9%-2.3%-0.9%5.4%3.9%0.3%3.6%----
2024---0.0%-2.7%2.1%-1.7%5.4%-0.8%0.4%-3.4%2.6%-5.6%
Top Exposures
Wells Fargo & Co1.15%
TD Synnex Corp0.98%
Performance Food Group Co0.93%
Primerica Inc0.87%
Alimentation Couche-Tard Inc0.82%
Stifel Financial Corp0.74%
Vontier Corp Ordinary Shares0.70%
Raymond James Financial Inc0.70%
TotalEnergies SE ADR0.70%
Ovintiv Inc0.68%
PG&E Corp0.67%
Labcorp Holdings Inc0.66%
Citigroup Inc0.64%
Jones Lang LaSalle Inc0.63%
DCC PLC0.63%
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
1.94%1.19% p.a.
Save 38%
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Fund facts
ISIN
LU2755903635
Fund house
Fidelity
Fund inception date
13 Mar 2024
Fund class currency
SGD
Fund share class
A SGD Hedged
Oldest share class ISIN
LU2755903395
Oldest share inception date
13 Mar 2024
Pricing frequency
Daily

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