The Fidelity Funds - Fidelity Target™ 2025 Fund A-Euro page has been refreshed from Fidelity Funds’ April 2026 Hong Kong Extract Prospectus. The PDF fund description is for Fidelity Target 2025 Fund.
Investment Objective
The fund aims to achieve capital growth over the long term for investors planning to withdraw substantial portions of their investment in the year 2025.
Investment Policy
The fund invests in a range of asset classes such as bonds, equities, interest bearing and money market instruments as well as eligible exposure to commodities from anywhere in the world, including emerging markets. These investments may be denominated in any currency and some of them may be below investment grade or unrated. The proportion of assets allocated to each asset class varies over time and the fund will increasingly favour lower risk investments as it approaches its target date, shifting to an in creasingly conservative asset allocation. The fund may invest in the following assets according to the percentages indicated: collateralised and securitised debt instruments: up to 20% SPACs: less than 5% The fund will not terminate at the target date but will continue to be managed in accordance with its investment objective and policy.
Investment Process
The fund is actively managed and references a blend of market indices (each a Market Index) in order to set internal guidelines around the weightings allocated to different asset classes. The fund is managed to offer an optimized asset allocation betw een asset classes with different risk and return characteristics. The asset allocation has been designed to de-risk portfolio by migrating from a growth to a defensive asset allocation up to the funds target date. 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. Through the investment management process the Investment Manager aims to ensure that investee companies follow good governance practices. A minimum of 70% of the funds assets will adhere to specific multi asset ESG criteria. For more information, see Sustainable Investing and ESG Integration and the Sustainability Annex.
SFDR Product Category
Article 8 (promotes environmental and/or social characteristics) Multi Asset ESG Tilt.
Derivatives and Techniques
The fund may use derivatives for hedging, efficient portfolio management and investment purposes. In addition to core derivatives (see How the Funds Use Instruments and Techniques), the fund intends to use TRS. TRS (including CFD) usage Expected 50%; maximum 150%. Securities lending Expected 15%; maximum 30%. Repos/reverse repos Expected 0%; maximum 30%.
Benchmark
None.
Base Currency
EUR.
Risk Management Method
Commitment.
Source
- Fidelity Funds, April 2026 Hong Kong Extract Prospectus:
data/fidelity/pr.ff.HK-en.HK.pdf