Whether you are thinking about your family's wellbeing or trying to fulfil your own personal dreams, you need an investment partner who is also thinking ahead. For nearly half a century, Fidelity's research driven expertise has been delivering long-term performance and helping generations of investors feel confident about the future.

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Fidelity - Your expert investment partner

Whatever your future goals, our investment team goes to the ends of the world to ensure we make the right decisions for you, and we mean that literally. If we need to visit lithium mines in South America or factories in China’s industrial heartlands in order to gain conviction for an investment decision, we will go.

In fact, of the 16,000 company meetings we attend each year, many take place outside of the boardroom. We do this because we believe that better research leads to better confidence, better investment decisions and better long-term performance for you.

Source: Fidelity International, 31 March 2016

Connecting the dots

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Research professionals based around the world work together across regions, sectors and asset classes
All insights from on-the-ground company meetings are shared in real time
Our analysts rotate sectors every two years ensuring established views are challenged
Thousands of company financial models are developed and saved for current and future analysis
All this information is gathered in a proprietary online system which can help identify patterns and anomalies and highlight investment ideas
The result is better investment ideas and better long-term performance for our clients


2016 Thompson Reuters Lipper Fund Awards

For the third consecutive year, the Fidelity Australian Equities Fund has been awarded the Best Australian Share Fund in Money magazine's Best of the Best Awards 2016.^ View our industry awards

Research in action

Let's look at an example of our integrated research in action:

Case study: KRAFT

How our team found value in Kraft’s unloved brands

Show case study


Kraft did not fit the ‘healthy living’ tag

In 2014, in a world increasingly obsessed with ‘healthy’ food, Kraft found itself out of favour with investors. However, Fidelity’s consumer analyst thought there was more to this ‘processed cheese’ business than met the eye.

He reviewed in detail its large collection of old, long-established brands, and found that the brands in Kraft’s portfolio were, in fact, very robust.

Our analyst upgraded the stock to a ‘buy’ rating in September 2014. In March 2015, Heinz merged with Kraft and the share price rose over 35% on the day.

Research outcome

Dan Roberts, Portfolio Manager of the Global Dividend Fund, purchased the stock in December 2014 and closed his position in March 2016 when valuations were no longer attractive.
From the time he purchased it until the merger, the stock delivered an annualised return of 102%. After the merger it delivered 11% until the time the stock was sold. This compares to the index return of 2.5% before the merger and zero after the merger.

Source: Bloomberg, April 2016 (rebased to 100)
Case study: Kweichow Moutai

Local analysis allows us to invest with conviction

Show case study

Kweichow Moutai

China's leading traditional liquor producer

Kweichow Moutai is a leading producer of premium alcohol in China. In 2012, the Chinese government’s policy to control government entertainment budgets began to impact its sales and concerns about an economic slowdown also hurt sentiment.

Our research approach highlighted that investors had overlooked an almost debt-free balance sheet, healthy cash flows and an attractive return on equity. Furthermore, the stock not only had a limited downside but also offered a good dividend yield.

Research outcome

Our consumer analyst upgraded Kweichow Moutai to a buy in April 2013 and retained their conviction in the stock even during the A-share downtrend seen in China in 2015. Since our analyst's buy recommendation, the stock has delivered an annualised return of 28% compared to the index (Shanghai A share) return of 12%.

Source: Bloomberg, April 2016 (rebased to 100)

We dive deeper

At Fidelity, we also conduct hundreds of private research studies each year.

Some examples include:

Beer icon

A survey of Irish pub landlords to test the likely impact of craft beer on ciders ales

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A survey of US consumers to understand whether consumers are likely to put pressure on food companies to make food healthier

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A survey of 300 sports retailers to compare the performance of sporting good brands such as Adidas, Puma and Nike

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Over 1000 online interviews with smokers and those who've quit smoking in the last year to better understand the use of E-cigarettes

An example was a recent research report into the air conditioning industry in China.

Uncovering the hot spots in a cooling market

China's air-conditioning industry

The air-conditioning industry in China was weakening in the last half of 2015

Fidelity was interested in better understanding the outlook so we commissioned an independent study of air-conditioning dealers. The survey provided a unique insight into the market’s growth potential and enabled our analyst to confirm that the weakness was not due to structural demand issues, but inventory pressure.

The research also showed the industry leaders - Gree and Midea - had sustainable competitive advantages. Fidelity was able to buy the stocks at very reasonable valuations – exposing our clients to the potential growth in the China home appliance space.

Source: Bloomberg, April 2016

Research drives performance

At Fidelity, we believe better research drives long-term performance.

The charts below illustrate the power of Fidelity’s research engine. They show the hypothetical returns of investing in the securities our analysts rate with a ‘buy’ recommendation and avoiding the ‘sell’ rated securities relative to their benchmarks in both equities and fixed income markets*.

(Please note that these are analyst recommendations only and not necessarily securities bought by our funds.)

Cumulative returns relative to regional indices

Cumulative returns relative to regional indices


Source: Fidelity International, 31 December 2015. Hypothetical return of investing long in a portfolio of Fidelity International buy-rated securities and avoiding sell-rated securities, relative to their benchmarks*, market cap weighted by region.

This hypothetical portfolio is based on active ratings in Fidelity’s Analyst Rating Metrics System and rebalanced daily. Each individual stock rating is active for 120 days (unless re-rated sooner) before being re-evaluated and dropping out or remaining depending on the new rating.

*APxJ Ratings are benchmarked against different country Indices based on the country of the securities using the following mappings: Australia: ASX200, China: MSCI China, Hong Kong: MSCI HK, India: MSCI India, Indonesia: JCI, Korea: KOSPI, Malaysia: KLCI, New Zealand: NZX50, Philippines: PSEI, Singapore: STI, Taiwan: TWSE, Thailand: SET Emerging EMEA securities: MSCI EM EMEA, Europe: MSCI Europe, Japan: TOPIX, LatAm: MSCI Latin America, US: S&P 500

For Fixed Income, the benchmark is an aggregate of Fidelity International's bond funds' respective benchmarks, weighted on the basis of a fund's total net assets as a proportion of the total fixed income assets under management.

Learn more

Learn more about Fidelity’s award-winning Australian Equities Fund. Or speak to your financial planner about our range of Australian and global funds, all of which benefit from our unique approach to research.

Fidelity. Let's get there together.

Important information

This material does not constitute a distribution, an offer or solicitation to engage the investment management services of Fidelity, or an offer to buy or sell or the solicitation of any offer to buy or sell any securities in any jurisdiction or country where such distribution or offer is not authorised or would be contrary to local laws or regulations.

Reference in this material to specific securities is included for illustration only and should not be construed as a recommendation to buy or sell the same. Performance of the security is not a representation of any investment fund's performance. The information contained in this material is only accurate on the date such information is published on this material. Opinions or forecasts contained herein are subject to change without prior notice.

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In Australia, this webpage is issued by FIL Responsible Entity (Australia) Limited ABN 33 148 059 009, AFSL No. 409340 (‘Fidelity Australia’). This webpage is intended for Investment Professionals only. Retail investors should not rely on any information on this webpage without first seeking advice from their financial adviser. It has been prepared without taking into account your objectives, financial situation or needs. You should consider these matters before acting on the information and consider the relevant Product Disclosure Statement for any product named on this website before making an investment decision. Details about Fidelity Australia’s provision of financial services to retail clients are set out in our Financial Services Guide, a copy of which can be downloaded from our website at www.fidelity.com.au. Any reference to $ is in US dollars unless otherwise stated.

^You should click here for information published by Money magazine about the award and how the winner was selected. You should also refer to relevant research houses to obtain further information about the meaning of the rating and the rating scale on which the award may be based. Ratings are only one factor to be taken into account when deciding whether to invest. Ratings are subject to change without notice and may not be regularly updated. Fidelity pays a fee to some research houses for rating our funds