Evidence and analysis
- Share-class currency
- EUR
- ISIN
- LU0261948227
- 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: Deutsche Boerse HDAX Total Return Index
| Period | Fund | Index | Gap (pp) |
|---|---|---|---|
| 1 year | 5.3% | 6.2% | -0.9 |
| 1-year: Underperforming | |||
| 3 years | 60.9% | 60.4% | +0.5 |
| 3-year: Outperforming | |||
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.
Fidelity Funds - Germany Fund A-ACC-Euro
The Fidelity Funds - Germany Fund is an equity fund that aims to achieve long-term capital growth from a portfolio consisting primarily of German equity securities.
Investment Objective
Latest Official Fund Data
| Metric | Current official value |
|---|---|
| NAV (EUR) | 38.3600 |
| NAV date | 2026-10-23 |
| Daily NAV change | -0.3800 (-0.9809%) |
| 1-year performance | 5.2859% |
| 3-year performance | 60.9233% |
| Performance date | 2026-09-30 |
| Fund type | Equity Fund |
| ISIN | LU0261948227 |
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
Tom Ackermans
The fund invests at least 70% of its assets in German equities. It targets companies that are headquartered or do most of their business in Germany. The fund manager focuses on stock selection, aiming to identify companies with strong growth potential or attractive valuations within the largest economy in the Eurozone.
Key Features
- Geographic Focus: Germany.
- Asset Class: Equities.
- Risk Profile: High (due to concentrated geographic exposure).
- Benchmark: HDAX® (Total Return) Index.
Performance and Risk Analysis
Based on historical NAV data, the fund exhibits significant volatility, consistent with a single-country equity fund focused on a major industrial economy.
Modern Portfolio Theory (MPT) Metrics
The following metrics are calculated based on the last 5 years of historical data:
- Expected Annualised Return: See MPT chart on the main fund page.
- Annualised Risk (Std Dev): Reflects the systematic risk of the German equity market (DAX/HDAX).
- Sharpe Ratio: Evaluated against a risk-free rate of 4.5%.
Market Context
The German equity market is heavily weighted towards industrials, consumer discretionary (automotive), and financials. As the powerhouse of Europe, the fund offers exposure to some of the world’s leading engineering and manufacturing firms.
Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results.