Fidelity Active Strategy - FAST - Global Fund A-PF-ACC-USD
0P0000ZLBW
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- Fidelity Active Strategy - FAST - Global Fund A-PF-ACC-USD (0P0000ZLBW) is a Luxembourg-domiciled SICAV sub-fund managed by Fidelity International that seeks long-term capital growth by investing at least 70% of its assets in global equities and related instruments, including up to 50% in emerging markets and up to 20% in money market instruments. The accumulating USD share class (ISIN: LU0966156126), launched on 30 September 2013, employs an active long/short equity strategy with net equity exposure around 96%, utilizing derivatives for both long positions (typically 125%) and short positions (around 29%), focusing on valuation metrics, company financials, return on capital, cash flows, management quality, and economic conditions. Core holdings as of recent data include healthcare firms like Hapvida Participacoes (5.4%), ConvaTec Group (4.1%), and Teva Pharmaceutical (3.8%); energy names such as Golar LNG (4.5%); consumer staples like Bunge Global (4.5%); materials including Newmont (4.3%) and Agnico Eagle Mines (3.8%); and industrials such as Babcock International (4.2%) and Rolls-Royce Holdings (3.9%), with sector allocations emphasizing healthcare (20.5% net), consumer defensive (15.5%), and technology (14.7%), alongside geographic focus on the United States (33.5%), United Kingdom (26.8%), Eurozone (22.4%), and emerging markets (20.6%). Headquartered in Luxembourg as part of the Fidelity Funds SICAV umbrella, the fund operates globally with availability in markets including the United Kingdom, Austria, Germany, Singapore, Switzerland, and various European countries, targeting institutional and retail investors seeking flexible global equity exposure. Dmitry Solomakhin has served as lead portfolio manager since inception, overseeing a Morningstar-rated strategy (4 stars as of August 2025) with an ongoing charge of 1.91%, maximum annual charge of 1.50%, and performance fee of 20% above a benchmark hurdle linked to the MSCI ACWI Index (net). Recent developments include sustained portfolio adjustments amid 2025 market dynamics, with top contributors such as Babcock International from UK defense sector gains on government spending expectations and profit upgrades, Deliveroo from its acquisition by DoorDash, and Western Digital from valuation normalization; detractors involved positions like a fraud-alleged company undergoing leadership changes for potential turnaround. In May 2024, Fidelity International formed a strategic partnership with Maybank Singapore to launch the FAST - Maybank Alpha Capital & Income Opportunities Fund, expanding the FAST platform's multi-asset offerings for ASEAN investors with income and growth focus, leveraging Fidelity's expertise alongside Maybank's regional footprint. No major fund-specific mergers, name changes, or manager transitions reported for this sub-fund in the last 1-2 years, though broader Fidelity fund updates in 2024-2025 involved policy tweaks and mergers in unrelated products.