Semi-Annual Report and Accounts - chartbook.fid-intl.com

Fidelity
Funds
Cemex Finance 9.50% 14/12/2016 Reg S US USD 4,347,881 4,633,211 0.21
FMG Resources 6.00% 01/04/2017 Reg S AU USD 2,898,587 2,784,456 0.13
Midwest Vanadium 11.50% 15/02/2018 144A AU USD 3,298,393 2,292,383 0.11
Sinochem Offshore Capital 1.80% 18/01/2014 VG CNY 1,081,914 170,048 0.01
34,608,298 1.60
Industrials
Zoomlion HK SPV 6.875% 05/04/2017 Reg S HK USD 3,398,344 3,641,893 0.17
Hutchison Whampoa Finance 7.50% 01/08/2027 Reg S KY USD 36,841 51,895 0.00
Caterpillar Financial Services 2.00% 01/12/2012 EMTN US CNY 315,558 50,537 0.00
3,744,325 0.17
Consumer Discretionary
MCE Finance 10.25% 15/05/2018 KY USD 22,988,797 26,264,701 1.21
Caesars Entertainment Operating 8.50% 15/02/2020 144A US USD 13,793,278 13,655,346 0.63
BSH 2.375% 29/09/2014 Reg S DE CNY 135,239 21,398 0.00
39,941,445 1.85
Telecommunication Services
America Movil 3.50% 08/02/2015 MX CNY 540,957 87,231 0.00
SK Telecom 2.125% 01/05/2018 Reg S KR USD 49,354 49,193 0.00
PCCW-HKT Capital No 2 6.00% 15/07/2013 Reg S VG USD 47,100 48,567 0.00
Singapore Telecommunication 7.375% 01/12/2031 Reg S SG USD 12,280 18,156 0.00
Hellas Telecomm. II 0.00% 15/01/2015 144A* LU USD 399,805 4 0.00
203,151 0.01
Financials
Country Garden Holdings 11.25% 22/04/2017 Reg S KY USD 10,095,081 11,276,523 0.52
Renhe Commercial Holdings 13.00% 10/03/2016 Reg S KY USD 20,190,161 10,738,642 0.50
Westpac Capital Trust III 5.819% VRN (Perpetual) Reg S US USD 10,544,241 10,671,647 0.49
CBA Capital Trust II 6.024% VRN (Perpetual) Reg S US USD 7,678,219 7,860,577 0.36
Resona Pref’d GS 7.191% VRN (Perpetual) Reg S KY USD 6,496,834 7,122,154 0.33
Anstock Limited 4.25% 20/09/2016 Reg S KY CNY 27,617,966 4,346,760 0.20
State Bank of India 7.14% VRN (Perpetual) IN USD 4,247,930 4,304,570 0.20
National Capital Trust II 5.486% VRN (Perpetual) Reg S US USD 4,211,478 4,248,767 0.20
BLD Investments 8.625% 23/03/2015 SG USD 4,797,662 2,998,539 0.14
Westpac Capital Trust IV 5.256% VRN (Perpetual) Reg S US USD 1,999,026 2,004,023 0.09
ORIX 4.00% 29/11/2014 EMTN JP CNY 979,318 158,997 0.01
Shinhan Bank 2.50% 15/03/2013 KR CNY 901,595 143,977 0.01
Industrial & Commercial Bank of China 3.00% 14/08/2015 CN CNY 753,919 120,643 0.01
Korea Exchange Bank 3.125% 26/06/2017 Reg S KR USD 106,481 110,810 0.01
Exim Bank of China 2.65% 02/12/2013 CN CNY 586,037 93,563 0.00
Exim Bank of China 3.35% 18/06/2017 CN CNY 450,798 72,227 0.00
Exim Bank of China 2.90% 05/04/2015 CN CNY 450,798 71,915 0.00
Korea Development Bank 2.75% 14/11/2013 EMTN KR CNY 450,798 71,850 0.00
Bangkok Bank (Hong Kong) 3.875% 27/09/2022 Reg S TH USD 61,401 62,399 0.00
Shinhan Bank 4.375% 15/09/2015 Reg S KR USD 49,121 53,045 0.00
Temasek Financial I 2.375% 23/01/2023 Reg S SG USD 53,241 52,533 0.00
Hitachi Capital 3.75% 22/03/2015 EMTN JP CNY 315,558 50,803 0.00
Caterpillar Financial Services 1.35% 12/07/2013 EMTN US CNY 315,558 49,931 0.00
ICICI Bank 5.00% 15/01/2016 Reg S IN USD 47,100 49,562 0.00
WEA Finance 5.75% 02/09/2015 Reg S US USD 42,592 47,790 0.00
ORIX 2.00% 24/03/2014 JP CNY 270,479 42,245 0.00
Bank of China (Hong Kong) 5.55% 11/02/2020 Reg S HK USD 36,841 41,838 0.00
Macquarie Group 7.30% 01/08/2014 Reg S AU USD 34,820 37,923 0.00
CITIC Bank International 3.65% 28/09/2014 EMTN HK CNY 225,399 36,062 0.00
WEA Finance 7.50% 02/06/2014 Reg S US USD 30,701 33,743 0.00
Westfield Capital 5.125% 15/11/2014 Reg S AU USD 22,540 24,327 0.00
Macquarie Group 7.30% 01/08/2014 144A AU USD 18,420 20,026 0.00
Svenska Handelsbanken 1.40% 28/02/2013 EMTN SE CNY 90,160 14,387 0.00
Korea Eximbank 3.40% 18/01/2013 EMTN KR CNY 45,080 7,267 0.00
67,040,065 3.10
Government
US Treasury 4.75% 15/05/2014 US USD 19,990,259 21,364,198 0.99
US Treasury 4.25% 15/11/2013 US USD 9,995,129 10,413,090 0.48
China 1.60% 06/09/2013 CN CNY 766,356 121,876 0.01
China 0.60% 18/08/2014 Reg S CN CNY 450,798 69,723 0.00
China 1.80% 01/12/2015 CN CNY 360,638 56,327 0.00
32,025,214 1.48
Open Ended Fund
Fidelity Institutional Liquidity Fund - A-ACC-USD IE USD 1 1,189 0.00
1,189 0.00
Money Market Instruments
Asian High Yield Fund - continued
Schedule of Investments as at 31 October 2012
Country Ccy Shares or Market % Net
Code Nominal Value Assets
USD
National Australia Bank CP 2.50% 21/11/2012 AU CNY 1,352,393 216,352 0.01
Standard Chartered Bank (HK) CD 2.85% 26/11/2012 HK CNY 450,798 72,214 0.00
China Construction Bank (HK) CD 1.05% 03/06/2013 HK CNY 450,798 71,266 0.00
Sumitomo Mitsui Banking CD 1.10% 22/04/2014 JP CNY 450,798 69,892 0.00
Bank of China (Hong Kong) CD 2.50% 26/03/2013 HK CNY 225,399 36,069 0.00
Bank of Communication CD 2.25% 19/12/2012 CN CNY 18,032 2,889 0.00
468,682 0.02
212
Unlisted
Industrials
Wharf Finance No.1 4.00% 27/03/2018 EMTN HK CNY 450,798 72,178 0.00
MTR (Cayman Islands) 0.625% 17/06/2013 KY CNY 450,798 71,203 0.00
143,381 0.01
Financials
ANZ Banking Group (Hong Kong) 1.45% 24/12/2012 AU CNY 540,957 86,332 0.00
CITIC Bank International 3.70% 01/11/2014 EMTN HK CNY 438,361 70,620 0.00
Cheung Kong Finance MTN 2.56% 03/10/2016 EMTN KY HKD 122,803 16,021 0.00
Sun Hung Kai 2.25% 15/09/2016 KY HKD 122,803 15,854 0.00
Coastal Greenland Wts 08/11/2012 HK HKD 1,487,575 192 0.00
189,019 0.01
Fractions 2 0.00
Total Investments (Cost USD 2,119,683,368) 2,127,119,765 98.29
Bank Deposits
ANZ TD 3.22% 01/11/2012 AU CNY 902,463 144,568 0.01
ANZ TD 3.06% 23/11/2012 AU CNY 901,595 144,429 0.01
288,997 0.01
Total Investments (including Bank Deposits) 2,127,408,762 98.30
Credit Default Swaps
Ccy Underlying Unrealised % Net
exposure gain / (loss) Assets
USD
Sold protection on Asia Ex Japan 20/12/2013 USD 4,997,565 171,180 0.01
Sold protection on Indonesia 20/12/2015 USD 9,995,129 72,682 0.00
Sold protection on Indonesia 20/03/2015 USD 4,997,565 48,496 0.00
Sold protection on Hynix Semiconductor 20/03/2013 USD 2,998,539 44,995 0.00
Sold protection on Vedanta Resources 20/03/2013 USD 7,996,103 43,923 0.00
Sold protection on Itraxx Asia Ex-Japan 20/12/2017 USD 245,605 (2,232) (0.00)
Sold protection on Itraxx Australia 20/12/2017 USD 245,605 (4,729) (0.00)
Bought protection on Philippines 20/03/2015 USD 4,997,565 (66,154) (0.00)
Bought protection on Philippines 20/12/2015 USD 9,995,129 (150,714) (0.01)
Bought protection on Japan 20/06/2017 USD 24,111,113 (344,026) (0.02)
Bought protection on Korea 20/06/2017 USD 24,987,823 (453,506) (0.02)
Sold protection on Bank of Tokyo-Mitsubishi 20/06/2017 USD 24,111,113 (848,005) (0.04)
Bought protection on Itraxx Europe Crossover 20/12/2016 EUR 29,985,388 (2,105,053) (0.10)
(3,593,143) (0.17)
Forward Foreign Exchange Contracts
Underlying Unrealised % Net
exposure gain / (loss) Assets
USD USD
Bought USD Sold EUR at 1.30616 26/11/2012 13,616,275 91,725 0.00
Bought CNY Sold USD at 6.37500 21/11/2012 318,670 6,294 0.00
Bought CNY Sold USD at 6.34150 30/11/2012 445,240 6,099 0.00
Bought CNY Sold USD at 6.35600 31/12/2012 445,441 5,898 0.00
Bought CNY Sold USD at 6.36750 05/11/2012 212,438 4,204 0.00
Bought CNY Sold USD at 6.35050 05/11/2012 85,203 1,454 0.00
Bought CNY Sold USD at 6.36000 05/11/2012 70,896 1,318 0.00
Bought CNY Sold USD at 6.29850 31/01/2013 901,819 860 0.00
Bought USD Sold CNY at 0.15742 21/11/2012 324,964 (5,165) (0.00)
Bought USD Sold CNY at 0.15751 05/11/2012 375,514 (6,215) (0.00)
Bought USD Sold GBP at 1.60600 26/11/2012 6,448,578 (27,690) (0.00)
78,782 0.00
- A Shares (RMB) (hedged)
Bought CNY Sold USD at 6.29050 07/12/2012 190,923 944 0.00
Bought CNY Sold USD at 6.26050 07/12/2012 182,893 28 0.00
972 0.00
- A Shares (EUR) (hedged)
Country Ccy Shares or Market % Net
Code Nominal Value Assets
USD
Bought EUR Sold USD at 0.77686 07/11/2012 16,745,705 129,548 0.01
Bought EUR Sold USD at 0.77184 07/12/2012 17,990,840 27,182 0.00
Bought EUR Sold USD at 0.77218 07/11/2012 1,082,653 1,804 0.00
Bought EUR Sold USD at 0.77073 07/12/2012 991,269 73 0.00
Bought EUR Sold USD at 0.76691 07/11/2012 770,629 (3,984) (0.00)