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FIAM Global Core
FIAM Global Core
The Global Core portfolio seeks to provide excess return relative to the MSCI All Country World Index® over a full market cycle. The portfolio seeks to ensure that active return is generated through stock selection.
Investment Approach
The Global Core portfolio is a bottom-up, fundamental strategy designed to deliver the best ideas of the FIAM global sector leaders. Each global sector leader researches and recommends candidates for the portfolio based on a sector-specific philosophy that has been developed and practiced over time. The team leader constructs the portfolio to ensure asset selection drives risk and returns while exhibiting characteristics similar to the benchmark.
Consistent exposure
Consistent exposure to global equities
Minimize surprises
Structured to minimize surprises from unintended benchmark exposures
Global research
Seeks returns driven by Fidelity's global research capabilities
Investment Process
Global Sector Leaders
- Creating a unique philosophy of seeking alpha generation specific to their sectors
- Primarily responsible for idea generation
- Identifying high-conviction ideas in their sector and capturing dispersion
- Initial trading recommendation and position sizing at the sector level
- Sector neutral, industry active; organized by 11 GICS sectors
Team Leader
- Final trading authority and position-sizing
- Ensuring that stocks matter at the portfolio level—not just the sector sleeve level
- Quantitative Risk Control: Being in line with our mandates and sharing risk appropriately across sectors
- Qualitative Risk Control: Avoiding unintended bets across sectors: housing, oil, China etc.
Global Core Portfolio
- Cohesive portfolio capturing best thinking of global sector team
- Betting on our highest conviction ideas
- Asset selection driving risk and returns
- High conviction portfolio characterized by high active share
Key Facts
| Composite Inception Date | July 30, 2010 |
| Benchmark | MSCI AC World (N) |
| Separate account minimum | $75M |
| Typical tracking error* | 3.0%–7.0% |
| Sector constraint | +/- 1.0% vs. Index |
| Security constraint | +/- 2.5% vs. Index |
| Typical portfolio turnover |
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Portfolio Managers
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* Risk metrics shown are provided for illustrative purposes. Risk metrics are not intended to represent performance of the strategy. They are presented gross of any fees and expenses that would apply to an investment in the strategy. Historical risk metrics do not necessarily guarantee future risk profile of the strategy. Please see the fact sheet for net composite performance which includes accounts managed by FIAM and other affiliated advisers, as permitted.
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