Research_strapline

Are you an:

Don't let the labels put you off!
If you're not an investor, but you want to learn, you can select investor

×

Register for FundCalibre!

We just need to know
if you are an:

Don't let the labels put you off!
If you're not an investor, but you want to learn, you can select investor

×

Fidelity Strategic Bond

Elite Rated by FundCalibre

This fund aims to provide a relatively high income with the possibility of capital growth. Portfolio construction follows a multi-strategy approach that seeks to add value through a large number of sources. At times, small open currency positions may also be used to add value.

Company Description

Fidelity International is a financial services corporation established in 1969. With offices in more than 20 countries, its product range spans mutual funds, defined contribution pensions, segregated portfolios and multi-manager offerings. Awarded the Elite Equities Provider rating in 2017, it compensates managers on long-term performance, illustrating its intention to align interests with clients.

Factsheet_fidelity_international_logo

Fund Manager

Ian Spreadbury is one of the most experienced fixed income managers in the industry. He started his career in
investment management in 1978 and joined Fidelity in 1995 as a senior portfolio manager. He holds an MSc in mathematical statistics from the University of Sussex and a BSc in pure and applied mathematics from the University College of North Wales. He is a fellow of the Institute of Actuaries

Factsheet_ian_spreadbury_fidelity

The fund is run as a ‘core’ bond fund, delivering not only good returns but also a relatively stable level of income. The fund carries low risk, and provides decent diversification for those already holding equity funds.

Ian Spreadbury - Fund Manager

The Investment Process

Ian adheres to the three pillars of bond investing: income, low volatility and low correlation to equities. He believes fixed income markets offer multiple sources of returns. This means portfolio construction is not dominated by any single factor and outperformance is expected to come from a balanced mix of asset allocation, interest rate positioning, sector allocation,
credit quality and currency exposure.

Risk

The fund aims to generate returns with low volatility and will use derivatives to more efficiently manage currency, credit, duration and country risk. Ian will also keep a close eye on correlations between bonds held in the portfolio and manage weightings accordingly. The exposure to high yield strategies is normally limited to 20% of the portfolio, with around 60% in investment grade and 30% government bonds, which makes the fund quite a balanced option within its sector.

Our Opinion

Ian is a very straight-up fund manager who doesn’t shy away from discussing both the good and the bad areas of his asset class. He has the experience to navigate the complex waters of the fixed interest market and he has been able to generate returns (and an income stream) with low volatility by selecting the right asset allocations for the majority of the time.

  • Fund
  • Sector

©2014 FundCalibre Limited. All Rights Reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of FundCalibre, (2) may not be copied or redistributed without prior permission, (3) do not constitute investment advice offered by FundCalibre, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a fund, and (5) are not warranted to be correct, complete, or accurate. FundCalibre shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. The Elite Fund rating is subjective in nature and reflects FundCalibre’s current expectations of future events/behaviour as they relate to a particular fund. Because such events/behaviour may turn out to be different than expected, FundCalibre does not ,guarantee that a fund will perform in line with its FundCalibre benchmark. Likewise, the Elite Fund rating should not be seen as any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision. FundCalibre disclaims any responsibility for trading decisions, damages or other losses resulting from any use of the Elite Fund rating.