Important documents Before investing please ensure that you have read the Fidelity Key Features Document (incorporating the Fidelity Client Terms) and the fund information documents. These can be found by clicking on the 'Important documents' link.
|Investment House||Hermes Investment Mgt|
|Fund Provider||Hermes Investment Management Ltd|
|Manager||Hamish Galpin Biography|
Fund Objective The investment objective of the Fund is to provide long-term capital appreciation. The Fund will seek to achieve its investment objective by primarily investing in equity and / or equity related securities of, or relating to, small market capitalisation companies domiciled in developed markets or which derive a large proportion of their income from developed markets. These equity and / or equity related securities may include small cap equities, common and / or preferred stock and / or Depository Receipts. The Fund may (but is under no obligation to) select its Investments from the MSCI World Small Cap Index which measures the performance of small capitalisation companies across the developed markets). As of [January] 2015, the MSCI World Small Cap Index consisted of the following 23 developed market country indices: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the UK and the US. In pursuance of its investment objective, the Fund may also acquire units/shares of listed closed-ended REITs and / or collective investment schemes which can deliver exposure to small market capitalisation companies. The collective investment schemes in which the Fund invests will meet the requirements of the Central Bank and may include exchange-traded funds and other funds of the Company. The Fund may also gain exposure to the aforementioned equity and / or equity related securities and / or collective investment schemes through the use of FDIs and / or through investment in Convertible Debt Securities. The FDIs which may be used by the Fund for such purposes include Warrants, Futures, Options (including Options on Futures) and Swaps. A decision to use FDIs may be made for reasons such as efficiency (i.e. it may be cheaper to gain exposure to an underlying Investment than to purchase the Investment directly).
|12-Month NAV High||£1.74|
|12-Month NAV Low||£1.41|
|Fund Comparative Index||-|
|Morningstar CategoryTM||Global Small-Cap Equity|
|Dividend Frequency||Twice Yearly|
One or more funds cannot be shown as they have less than one year of performance data.
Fund versus Morningstar Category
The value of the fund and the income from it can go down as well as up so you may get back less than you invested. If your fund invests in overseas markets, changes in currency exchange rates may affect the value of your investment. If your fund invests in small and emerging markets, these can be more volatile than other more developed markets. Past performance is not a guide to future returns.
For funds that invest in bonds, please be aware that the price of bonds is influenced by movements in interest rates, changes in the credit rating of bond issuers, and other factors such as inflation and market dynamics. In general, as interest rates rise the price of a bond will fall. The risk of default is based on the issuer's ability to make interest payments and to repay the loan at maturity. Default risk may therefore vary between different government issuers as well as between different corporate issuers.
Some of the performance and risk data presented may start before the share class was launched. If so, the data prior to the launch date of the share class is based on the fund or share class that has similar or higher charges, in order to provide an indication of longer term performance and risk. Please refer to the launch date and performance start date in the fund factsheet to determine whether the data has been extended.Past Performance and Risk & Volatility figures are presented in British Pounds Sterling (GBP). Fund returns are calculated on a Nav to Nav or Bid to Bid basis with income reinvested either after tax (for UK-domiciled funds) or gross of tax (for offshore funds). Performance figures include the effect of the OCF/TER. To cover distribution costs a separate service fee is now also charged on most funds, which is not included in the past performance figures. Consequently the past performance of the fund may be less than that shown on the chart due to the effect of the service fee.