The Fidelity Funds - Global Multi Asset Dynamic Fund (A-ACC-HKD) seeks to provide long-term capital growth through a dynamically managed portfolio of global assets including equities, bonds, commodities, and other asset classes, with the flexibility to adjust allocations based on market conditions.
Investment Objective
This is a flexible, go-anywhere multi-asset fund that can invest across equities, fixed income, commodities, alternatives, and cash globally. The “dynamic” nature means the fund manager actively shifts allocations — potentially dramatically — in response to changing market conditions, economic cycles, and relative valuations.
Dynamic Asset Allocation
Unlike static balanced funds with fixed asset class weights, a dynamic approach allows:
- Moving to high cash positions during market stress
- Increasing equity allocation in bull markets
- Shifting between geographies based on relative attractiveness
- Incorporating commodities or alternative assets for diversification
Global Mandate
The fund can access opportunities across all geographies — US, Europe, Asia, emerging markets — and all asset classes, giving the fund manager maximum flexibility.
Currency
Denominated in HKD, suitable for Hong Kong-based investors who prefer local currency.
Risk Considerations
Multi-asset funds depend heavily on the skill of the asset allocator. Incorrect tactical calls can lead to significant underperformance. Currency risk (from global holdings translated to HKD), as well as the risks inherent in each underlying asset class, all apply.
Risk & Return Metrics
Share class: A-ACC-USD | ISIN: LU0261961675 | Data: yfinance (1004 trading days, annualised at 252 days/year)
| Metric | Daily | Annualised |
|---|---|---|
| Expected Return | 0.0273% | 7.13% |
| Risk (Std Dev) | 0.7545% | 11.98% |
| Metric | Value |
|---|---|
| First NAV | 15.6700 |
| Last NAV | 20.0300 |
| Total Return (period) | 27.82% |