LU2755903635
Fidelity Funds 2 - Global Discovery Fund SGD-Hedged

Equities
Global
SGD Cash
Accumulating

Invest with

SGD Cash

Payout type

Accumulating

Risk rating

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

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Product Highlight Sheet

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Prospectus

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Factsheet

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Our perspective

Why we think this fund is best-in-class

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.

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.

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.

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.

Cost

Endowus offers retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access

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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Performance

Returns

NAV

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

Total returns

Cumulative

Annualised

All Time

11.09%

YTD

3.63%

1 month

3.63%

6 month

7.94%

1 year

11.41%

As of Jan 2026

Distributions

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

Risk metrics

Max drawdown

-8.98%As of Jan 2026

Volatility

10.94%As of Jan 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	3.6%	-	-	-	-	-	-	-	-	-	-	-
2025	11.8%	4.0%	-2.9%	-2.3%	-0.9%	5.4%	3.9%	0.3%	3.6%	-0.6%	-2.0%	2.2%	1.0%
2024	-	-	-	0.0%	-2.7%	2.1%	-1.7%	5.4%	-0.8%	0.4%	-3.4%	2.6%	-5.6%

Top Exposures

Holdings

Regions

Sectors

Wells Fargo & Co	1.01%
Performance Food Group Co	0.78%
Primerica Inc	0.77%
Stifel Financial Corp	0.76%
Elanco Animal Health Inc	0.76%
TotalEnergies SE	0.75%
Alimentation Couche-Tard Inc	0.74%
PG&E Corp	0.74%
GSK PLC	0.74%
Gilead Sciences Inc	0.69%
Ovintiv Inc	0.66%
Jones Lang LaSalle Inc	0.66%
Vontier Corp Ordinary Shares	0.65%
DCC PLC	0.65%
Citigroup Inc	0.65%

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.

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Fund facts

ISIN

LU2755903635

Fund house

Fidelity

Fund size

S$33.4M

As of 31 Dec 2025

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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LU2755903635Fidelity Funds 2 - Global Discovery Fund SGD-Hedged

LU2755903635
Fidelity Funds 2 - Global Discovery Fund SGD-Hedged