Notification of changes to the underlying fund of R91 Fidelity Multi Asset Strategic (GBP)

Before 08 March 2019

With Effect From 08 March 2019

Mirror Fund Name

Fidelity Multi Asset Strategic (GBP)

Fidelity Multi Asset Open Strategic (GBP)

Mirror Fund Code

R91

R91

Underlying Fund

Fidelity Investment Funds IV - Fidelity Multi Asset Strategic Fund A Acc GBP

Fidelity Investment Funds IV - Fidelity Multi Asset Open Strategic Fund A Acc GBP

Underlying Fund ISIN

GB00B1M29V45

GB00B8WR7L45

Manager/Management Company

FIL Investment Services (UK) Limited

FIL Investment Services (UK) Limited

Management Fee

1.25%

1.25%

Ongoing Charges

1.85%

1.80%

Currency of Mirror Fund

GBP

GBP

Currency of Underlying Fund

GBP

GBP

Underlying Fund Investment Objective and Policy

The Fund aims to provide long term capital growth through global exposure to a balance of lower and higher risk assets.

The Fund provides global exposure to a diversified range of assets by primarily investing in funds. The Fund typically invests more than 65% in sub-funds of an Irish UCITS fund (Fidelity Common Contractual Fund II) operated by Fidelity which subsequently utilise the experience and specialisms of a number of investment managers (which may include Fidelity) to manage the underlying assets.

The Fund can also invest directly into other collective investment schemes (including schemes operated by Fidelity), transferable securities, money market instruments, cash and deposits, and is also able to use derivatives for efficient portfolio management and investments purposes.

Asset allocation exposure of the Fund will be actively managed and typical allocation will be as follows: 50% lower risk assets (such as debt instruments e.g. bonds and cash) and 50% higher risk assets (including equities, commodities and property securities). However the Fund’s allocation between lower risk and higher risk assets can be tactically adjusted within the following range in order to preserve capital or take advantage of market opportunities: in all market conditions, 30-70% lower risk assets and 30-70% higher risk assets.

The Fund targets an average annual return of 5% after the deduction of ongoing fund charges, over a typical market cycle of 5-7 years. The return target assumes the deduction of the ongoing charges figure (OCF) on the Y share class. There is no guarantee that the target will be achieved by the Fund. The Fund typically has exposure to both higher and lower risk investments meaning that there is a moderate risk of capital losses and an investor may not get back the full amount invested.

The Fund provides global exposure to a diversified range of assets by primarily investing in funds. The Fund typically invests more than 65% in sub-funds of an Irish UCITS fund (Fidelity Common Contractual Fund II) operated by Fidelity which subsequently utilise the experience and specialisms of a number of investment managers (which may include Fidelity) to manage the underlying assets.

The Fund can also invest directly into other collective investment schemes (including schemes operated by Fidelity), transferable securities, money market instruments, cash and deposits, and is also able to use derivatives for efficient portfolio management and investment purposes.

Asset allocation exposure of the Fund will be actively managed subject to it remaining within the following parameters in all market conditions: 20-60% equity, 5-80% debt instruments (which may include high yield bond and emerging market debt), 0-30% cash and 0-30% alternatives (such as infrastructure securities and Real Estate Investment Trusts).