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We have received notification from Fidelity Funds ("Fidelity") of changes to the investment policy on a number of its funds. These changes will take effect from 30 July 2024 ("Effective Date")
AVAILABLE IN OUR DEFINED FUND RANGE PRODUCTS
As part of its ongoing commitment to responsible and sustainable investing, Fidelity is updating its approach to Sustainable Investing and environmental, social and governance (“ESG”) integration to reflect the evolving sustainable investing landscape and enhance transparency to investors. Details of the ESG criteria used by Fidelity can be found on its website.
From the Effective Date, Fidelity will be introducing ESG portfolio scores to promote environmental and social characteristics of the funds detailed in the tables below (the "Affected Funds"), and the investment strategy will be updated accordingly.
Click on the sliders below to see details of the changes, the Affected Funds, and the applicable product range.
Introduction of new ESG portfolio scoring system
The fund investment process of the below Affected Funds currently provides that it invests at least 50% of their assets in securities of issuers or companies with favourable ESG characteristics. From the Effective Date this limit will no longer be included as part of the investment process, instead will aim to have an ESG score greater than that of the investment universe or benchmark of the respective funds.
Fund Name and ISIN
Available in Product Range
Fidelity Funds American Growth A Inc USD - LU0077335932
Preference Hong Kong Preference
Fidelity Funds Asian Special Situations A Inc USD - LU0054237671
Fidelity Funds European Growth A Inc EUR - LU0048578792
Fidelity Funds Global Technology A Inc EUR - LU0099574567
Fidelity Funds Asian Smaller Companies A Acc EUR - LU0702159772
Oracle Paragon Quantum (inc. Malaysia variant) Regular Savings Plan (inc. Malaysia variant) Kudos
Fidelity Funds Asian Smaller Companies A Acc USD - LU0702159699
Fidelity Funds China Consumer A Acc EUR - LU0594300096
Fidelity Funds China Consumer A Acc USD - LU0594300179
Fidelity Funds Emerging Markets A Acc EUR - LU1048684796
Fidelity Funds Emerging Markets A Acc USD - LU0261950470
Fidelity Funds Thailand A Acc USD - LU1224710803
Fidelity Funds European High Yield A Acc EUR - LU0251130802
Oracle Paragon Quantum (inc. Malaysia variant) Regular Savings Plan (inc. Malaysia variant) Kudos LifePlan Protected Lifestyle
Fidelity Funds Global Dividend A Acc EUR - LU1261431768
Fidelity Funds Global Dividend A Acc EUR hgd - LU0605515377
Fidelity Funds Global Dividend A Acc USD - LU0772969993
Increasing the minimum commitment to investments with high ESG ratings
The fund investment process of the below Affected Funds currently provides that it invests at least 70% of the fund's assets in securities of issuers with favourable ESG characteristics and up to 30% in securities of issuers with [low but] improving ESG characteristics. From the Effective Date, this limit will no longer be included as part of the investment process, and instead will aim to have an ESG score greater than that of the fund's investment universe or benchmark.
Fund Name and ISIN
Available in Product Range
Fidelity Funds Sustainable Asia Equity A Acc EUR - LU0261946445
Oracle Paragon Quantum (inc. Malaysia variant) Regular Savings Plan (inc. Malaysia variant) Kudos
Fidelity Funds Sustainable Asia Equity A Acc USD - LU0261947096
Increasing minimum commitment to specific ESG criteria
From the Effective Date the below Affected Funds will align investment of at least 70% of their respective portfolios with specific ESG
criteria used by Fidelity for its multi-asset funds, details of which may be viewed at Fidelity Funds - Sustainable Investing Framework
Fund Name and ISIN
Available in Product Range
Fidelity Funds Global Thematic Opps A Inc USD - LU0048584097
Preference Hong Kong Preference
Fidelity Funds Global Multi Asset Income A Acc EUR - LU1116430247
Oracle Paragon Quantum (inc. Malaysia variant) Regular Savings Plan (inc. Malaysia variant) Kudos LifePlan Protected Lifestyle
Fidelity Funds Global Multi Asset Income A Acc USD - LU0905233846
Fidelity Funds Global Multi Asset Income A Acc JPY Hgd - LU1295424110
Oracle Paragon Quantum (inc. Malaysia variant) Regular Savings Plan (inc. Malaysia variant) Kudos
Policyholders do not need to take any action if they are happy with the changes, however, they can choose to switch into alternative funds if they wish, free of charge.
AVAILABLE IN OUR OPEN-ARCHITECTURE PRODUCTS
Fidelity funds can be accessed through our portfolio bonds and will be subject to the changes detailed in the Fidelity notification opposite.