- According to FE Fundinfo, since launch on 24 September 2020 to 24 June 2026, the Fidelity Absolute Return Global Equity fund has returned 41.80%, versus the average return of 21.58% in the FO Absolute Return sector.
- “The fund has performed strongly versus peers, particularly on a risk-adjusted basis,” said Jones. “As at 30 April 2026, it has beaten 85% of its peers over three years, 91% over five years and 86% since inception on Sharpe ratio, based on the Morningstar EAA Equity Market Neutral USD peer group.”
- He added: “In the almost six years since launch we have gone from a zero-interest rate environment to a more normalised one, we have seen equity markets fall 20%, witnessed huge rotations everywhere and seen bonds and equity markets dislocating. Despite this, the fund has annually delivered nearly cash, plus 6% returns and beaten the majority of our peers.”
- In terms of contributors to performance, Jones noted the main areas were stock selection and stock picking from the global research team.
- “We have had some great strength in areas such as the IT sector, and in net short positions in energy, financials and even utilities,” he said. “The aim is always to deliver a breadth of alpha across our entire research platform, and it not be dominated by any one sector.”