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ii Super 60 - Fidelity Global Dividend

ii Super 60 investments

ii Super 60 investments:
Fidelity Global Dividend

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Asset Group Asset Sub-Group Investment Category
Equities Global equity income Core

Selection rationale:
Dan Roberts has run Fidelity Global Dividend since its launch in January 2012. Although its history does not span a full market cycle, the fund has been a solid performer, generating outperformance in more difficult markets, while keeping up in strongly rising markets. The fund has consistently ranked in the top quartile every calendar year, except for 2016 and 2017. This is in line with expectations, as his approach should benefit when quality, defensive large companies do well.

Roberts describes his approach as “unconstrained, dividend-based, total return, with an emphasis on capital preservation”. The fund aims to deliver good long-term total returns with lower volatility than stock markets generally, and income growth ahead of inflation. Its current yield is about 3% and dividends are paid quarterly.

There are five key investment characteristics that Roberts holds dear: simple, understandable business models; predictable, resilient return profiles; healthy balance sheets; transparent financial statements and sensible capital allocation. To invest in good-quality companies on reasonable valuations, he often adopts a contrarian attitude.

He relishes the fund’s global mandate, explaining that it gives a much greater opportunity to select from within sectors and across different industry groups. Roberts feels this helps him with portfolio construction and in managing sector skews and stock concentration. He can also take advantage of relative valuation opportunities and access sectors that may not be available when a fund’s mandate is country specific.

His fund typically holds around 50 companies, which he says enables him to balance conviction with diversification and to achieve a degree of capital protection in volatile markets.

October 2020

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Risk warnings

Past performance of the underlying constituents is not a guarantee of future performance. The value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. 

Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab. 

The information we provide in the ii Super 60 investments list is an opinion provided by ii or one of its partners on whether to buy a specific investment. Please note that none of the opinions we provide are a “personal recommendation”, which means that we have not assessed your investing knowledge and experience, your financial situation or your investment objectives. Therefore you should ensure that any investment decisions you make are suitable for your personal circumstances.

If you are unsure about the suitability of a particular investment or think that you need a personal recommendation, you should speak to a suitably qualified financial advisor. 

Any changes to the ii Super 60 investments list and the rationale behind those decisions will be communicated through the Quarterly Investment Outlook.

Details of all recommendations issued by ii during the previous 12 month period can be found here.

ii adheres to a strict code of conduct. Members of ii staff may hold shares in companies mentioned in the ii Super 60 investments list, which could create a conflict of interest. Any member of staff intending to complete some research about any financial instrument in which they have an interest are required to disclose such interest to ii. We will at all times consider whether such interest impairs the objectivity of the recommendation.

In addition, staff involved in the production of this ii Super 60 list are subject to a personal account dealing restriction. This prevents them from placing a transaction in the specified instrument(s) for five working days before and after an investment is included or amended and made public within the list. This is to avoid personal interests conflicting with the interests of the recipients of this ii Super 60 investments list.