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Changes to Fidelity Institutional Fund - UK Gilt Fund

Effective date 2 June 2020

 

 

Current

New

Prospectus Investment Objective

The Fund aims to deliver an income with the potential to increase the value of your investment.

The Fund aims to increase the value of your investment over a period of 5 years or more.

Prospectus Investment Policy

The Fund will be at least 70% exposed to sterling-denominated (or hedged back to sterling) UK Government debt instruments.

The Fund is actively managed. The Investment Manager identifies suitable investment opportunities for the Fund, utilising in-house research and investment capability.

The Investment Manager will, when selecting investments for the Fund and for the purposes of monitoring risk, consider the FTSE Actuaries UK Gilts All Stocks Index. However, the Investment Manager has a wide degree of freedom relative to the index and may invest in issuers, sectors, countries and security types not included in the index in order to take advantage of investment opportunities. This means the Fund's investments and therefore performance may vary significantly from the index.

The Fund may also obtain exposure to transferable securities, money market instruments, collective investment schemes, cash and near cash and deposits. Derivatives may be used for efficient portfolio management and investment purposes and may include (but are not limited to) derivatives on exchange rates, interest rates, inflation and credit. The Fund may also take positions which enable it to benefit from falling asset prices.

The Fund will be at least 70% exposed to sterling-denominated (or hedged back to sterling) UK Government debt instruments.

The Fund is actively managed. The Investment Manager identifies suitable investment opportunities for the Fund, utilising in-house research and investment capability.

The Investment Manager will, when selecting investments for the Fund and for the purposes of monitoring risk, consider the FTSE Actuaries UK Gilts All Stocks Index. However, the Investment Manager has a limited degree of freedom relative to the index and may invest in issuers, sectors, countries and security types not included in the index in order to take advantage of investment opportunities. This means the Fund's investments and therefore performance may vary from, but is unlikely to be significantly different to, the index.

The Fund may also obtain exposure to transferable securities, money market instruments, collective investment schemes, cash and near cash and deposits. Derivatives may be used for efficient portfolio management and investment purposes and may include (but are not limited to) derivatives on exchange rates, interest rates, inflation and credit. The Fund may also take positions which enable it to benefit from falling asset prices.

Performance benchmark

The Fund's performance can be compared to the FTSE Actuaries UK Gilts All Stocks Index as the index constituents best represent the characteristics the Fund is seeking to gain exposure to.

The Fund's performance can be compared to the FTSE Actuaries UK Gilts All Stocks Index as the index constituents best represent the characteristics the Fund is seeking to gain exposure to.