Evidence and analysis
- Share-class currency
- USD
- ISIN
- LU0594300849
- Hedging status
- Not inferred from currency; consult the exact share-class factsheet.
The fund's base currency, shown in the prospectus description below, can differ from this share class's dealing currency. All benchmark comparisons above use the stated share-class currency.
Benchmark: Bloomberg Global Aggregate Index Hedged to USD
| Period | Fund | Index | Gap (pp) |
|---|---|---|---|
| 1 year | -1.4% | -0.6% | -0.8 |
| 1-year: Underperforming | |||
| 3 years | 12.3% | 15.1% | -2.8 |
| 3-year: Underperforming | |||
Gap = fund minus index in percentage points. Returns are cumulative, with dividends reinvested, in the share class currency. Includes ongoing charges; excludes entry/exit fees. Based on Fidelity's rounded comparison table. A negative gap indicates underperformance for that period.
Latest Official Fund Data
| Metric | Current official value |
|---|---|
| NAV (USD) | 11.8900 |
| NAV date | 2026-10-23 |
| Daily NAV change | 0.0200 (0.1685%) |
| 1-year performance | -1.4370% |
| 3-year performance | 12.3314% |
| Performance date | 2026-09-30 |
| Fund type | Bond Fund |
| ISIN | LU0594300849 |
Source: Fidelity Hong Kong mutual-fund directory, retrieved 2026-10-26. Observation dates are shown separately; performance figures are reproduced from the official directory in the share class currency. Historical risk and return analysis below has not been recalculated by this directory refresh.
Portfolio Manager
Mike Riddell, Ravin Seeneevassen, Tim Foster
The Fidelity Funds - Strategic Bond Fund page has been refreshed from Fidelity Funds’ April 2026 Hong Kong Extract Prospectus. The PDF fund description is for Strategic Bond Fund.
Investment Objective
The fund aims to achieve capital growth over time and provide income.
Investment Policy
The fund invests at least 70% of its assets, in debt securities which may include government, inflation linked, investment grade and below investment grade corporate debt securities and money market instruments. These investments may be from anywhere in the world, including emerging markets. The fund may invest in the following assets according to the percentages indicated: • Listed China onshore bonds (directly and/or indirectly): less than 30% (in aggregate) • hybrids and contingent convertible (CoCo) bonds: less than 30%, with less than 20% in CoCos. The fund’s exposure to distressed securities is limited to 10% of its assets.
Investment Process
In actively managing the fund, the Investment Manager uses in-house research and investment capabilities to identify suitable opportunities across bond issuers, sectors, geographies, and security types. This may include an assessment of bond issuers’ creditworthiness, macroeconomic factors, and valuations. The Investment Manager considers ESG characteristics when assessing investment risks and opportunities. In determining ESG characteristics, the Investment Manager takes into account ESG ratings provided by Fidelity or external agencies. The fund aims to achieve an ESG score of its portfolio greater than that of its
SFDR Product Category
Article 8 (promotes environmental and/or social characteristics) – ESG Tilt.
Derivatives and Techniques
The fund may use derivatives for hedging, efficient portfolio management and investment purposes. The fund may use long or short positions. The fund uses derivatives including complex derivative instruments or strategies, to meet the investment objectives of the fund with a level of risk which is consistent with the risk profile of the fund. Derivatives may be used to create economic exposure to the underlying asset, this may include futures, forwards, options, and swaps. The fund will use (i) index, basket or single credit default and total return swaps to gain exposure or reduce credit risk of issuers, (ii) interest rate futures, swaps or options to actively manage the level of interest rate risk and (iii) currency derivatives to hedge or gain exposure to currencies. The long and short active currency positions implemented by the fund may not be correlated with the underlying securities positions held by the fund. In addition to core derivatives (see “How the Funds Use Instruments and Techniques”), the fund intends to use TRS. TRS (including CFD) usage Expected 40%; maximum 200%. Securities lending Expected 15%; maximum 30%. Repos/reverse repos Expected 15%; maximum 30%.
Benchmark
Bloomberg Global Aggregate Bond Index, a broad market index that does not take into account ESG characteristics.
Base Currency
USD.
Main Risks
- China
- CoCo bonds
- Convertible securities
- Counterparty and collateral
- Credit
- Currency
- Derivatives
- Distressed securities
- Emerging markets
- Hedging
- High yield
- Interest rate
- Investment fund
- Leverage
- Liquidity
- Market
- Operational
- Short position
- Sovereign debt
- Sustainable investing
Risk Management Method
Absolute VaR, limited to 10%. Expected gross leverage: 500% (may be higher or lower but not expected to exceed 1000%).
Fidelity Hong Kong Website Data
Note: Visit the fund’s factsheet at https://www.fidelity.com.hk/en/funds/factsheet/GSBUS/G for the latest Morningstar rating, risk rating, NAV, fund size, and performance data.
Available Metrics (to be populated from Fidelity HK factsheet):
- Morningstar Rating: ★★★★☆ (to be verified)
- Risk Rating: /5 (Medium to High) (to be verified)
- Fund Size: (to be verified)
- NAV: (to be verified)
- Annual Management Fee: (to be verified)
- Max Sales Charge: (to be verified)
- Launch Date: (to be verified)
- 3-Year Standard Deviation: (to be verified)
- ISIN: (from prospectus)
- Bloomberg Ticker: (to be verified)
Performance Data (from Fidelity HK factsheet):
- Annual performance table
- Cumulative performance (YTD, 6m, 1yr, 3yr, 5yr)
- Top 10 holdings
- ESG metrics and MSCI ratings
- Volatility measures (standard deviation, beta, alpha, risk rating)
Charges and Expenses (from Fidelity HK factsheet):
- Max. Sales Charge
- Annual Management Fee
- Other fees (refer to prospectus)
Source
- Fidelity Funds, April 2026 Hong Kong Extract Prospectus:
data/fidelity/pr.ff.HK-en.HK.pdf