Fidelity Absolute Return Global Fixed Income

Investment Objective

The fund aims to provide a positive absolute return over the medium to long term. The fund has flexibility to invest across the fixed income universe, including but not limited to government bonds, inflation linked bonds, investment grade corporate bonds, emerging market debt and high yield bonds in addition to currency markets and derivatives. The fund aims to deliver a cash plus return over rolling annual periods while aiming to: generate alpha in different market environments with a focus on
downside protection, benefit from rising volatility via strategies that can exploit these environments (such as long/short) and maintain a low correlation with traditional asset classes. The strategies employed will focus on relative value and non-directional positions to limit market risk factors.