Fidelity Australian Equities
APIR code: FID0008AU
To achieve returns in excess of the S&P/ASX200 Accumulation Index over the suggested minimum investment time period of five to seven years.
We maintain our positive view of Fidelity Australian Equities, given its consistency over the long term. Seasoned portfolio manager Paul Taylor finds ways to implement his signature style, which focuses on identifying and backing the best business models in Australia through various markets.
Taylor makes good use of analyst recommendations in conjunction with his views to build a diversified portfolio with a soft-growth tilt of about 30 to 50 names. A key strength is Taylor's ability to stand by picks that have served the portfolio well for a long time, including CBA, Domino's, SEEK, and Oil Search. His willingness to let winners run demonstrates a long-term mindset.
We are confident this strength can continue, in part because Taylor is backed by an experienced and stable team of analysts. Three former analysts have been promoted to portfolio manager in the past few years. They can help alleviate some time pressure on Taylor while providing a good source of ideas and opinions to challenge him.
All in all, given Taylor's proven process and track record, Fidelity Australian Equities will likely remain an excellent option for investors going forward.
Key fund data
Management fee: 0.85%pa Morningstar Analyst Rating: Gold Minimum initial investment: A$25,000 Role in portfolio: Core