Semi-Annual Report and Accounts - chartbook.fid-intl.com
Semi-Annual Report and Accounts - chartbook.fid-intl.com
Semi-Annual Report and Accounts - chartbook.fid-intl.com
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Fidelity<br />
Funds<br />
European High Yield Fund<br />
Schedule of Investments as at 31 October 2012<br />
Country Ccy Shares or Market % Net<br />
Code Nominal Value Assets<br />
EUR<br />
Securities Admitted to or Dealt on an Official Stock Exchange<br />
Energy<br />
MOL Hungarian Oil & Gas 5.875% 20/04/2017 EMTN HU EUR 4,325,024 4,439,637 0.22<br />
HollyFrontier 9.875% 15/06/2017 US USD 4,914,800 4,165,573 0.20<br />
Afren 10.25% 08/04/2019 Reg S GB USD 4,521,616 4,018,514 0.20<br />
Gazprom Int’l (Gazprom) 7.201% 01/02/2020 Reg S LU USD 62,287 53,904 0.00<br />
Korea Resources 4.125% 19/05/2015 KR USD 43,271 35,466 0.00<br />
Petrohawk Energy 7.25% 15/08/2018 US USD 30,289 26,620 0.00<br />
Enbridge Energy Partners 5.20% 15/03/2020 US USD 21,635 19,453 0.00<br />
Marathon Oil 2.80% 01/11/2022 US USD 21,635 16,792 0.00<br />
Frontier Oil 6.875% 15/11/2018 US USD 15,145 12,400 0.00<br />
Petromena 9.75% 24/05/2013 (Defaulted)* NO NOK 107,292 2,683 0.00<br />
12,791,042 0.63<br />
Utilities<br />
EDP Finance 5.75% 21/09/2017 EMTN NL EUR 16,901,034 17,323,559 0.85<br />
EDP Finance 4.75% 26/09/2016 EMTN NL EUR 16,071,395 16,052,776 0.79<br />
First Hydro Finance 9.00% 31/07/2021 GB GBP 5,018,223 7,592,460 0.37<br />
EDP Finance 8.625% 04/01/2024 EMTN NL GBP 4,570,764 5,972,992 0.29<br />
Viridian Group FundCo II 1.125% 01/04/2017 Reg S KY EUR 4,914,800 5,099,105 0.25<br />
Southern Water Greens<strong>and</strong> 8.50% 15/04/2019 GB GBP 3,686,100 4,785,514 0.24<br />
Techem Energy Metering Serv. 7.875% 01/10/2020 Reg S DE EUR 4,275,876 4,540,029 0.22<br />
Techem 6.125% 01/10/2019 Reg S DE EUR 4,275,876 4,512,759 0.22<br />
Intergen 8.50% 30/06/2017 Reg S NL EUR 3,194,620 3,018,916 0.15<br />
EDP Finance 6.625% 09/08/2017 EMTN NL GBP 1,867,624 2,403,990 0.12<br />
EDP Finance 3.25% 16/03/2015 EMTN NL EUR 1,867,624 1,845,656 0.09<br />
EDP Finance 4.90% 01/10/2019 144A NL USD 1,867,624 1,384,009 0.07<br />
Intergen 9.50% 30/06/2017 Reg S NL GBP 982,960 1,149,012 0.06<br />
EDP Finance 6.00% 02/02/2018 144A NL USD 1,376,144 1,088,418 0.05<br />
EDP Finance 4.90% 01/10/2019 Reg S NL USD 1,376,144 1,020,693 0.05<br />
Edison Spa 3.875% 10/11/2017 EMTN IT EUR 64,906 69,478 0.00<br />
Alli<strong>and</strong>er 2.875% 14/06/2024 EMTN NL EUR 43,271 44,642 0.00<br />
ENW Finance 6.125% 21/07/2021 EMTN GB GBP 21,635 32,560 0.00<br />
Wales & West Utilities Fin. 6.75% VRN 17/12/2036 EMTN GB GBP 21,635 31,688 0.00<br />
AES Drax Energy 11.25% 30/08/2010 (Defaulted)* KY GBP 737,220 9 0.00<br />
TXU Europe Funding 7.00% 30/11/2005 (Defaulted)* GB EUR 737,220 7 0.00<br />
77,968,272 3.83<br />
Materials<br />
Lafarge 10.00% 30/05/2017 EMTN FR GBP 19,033,053 28,254,365 1.39<br />
HeidelbergCement Finance 8.00% 31/01/2017 NL EUR 22,023,217 25,649,615 1.26<br />
Cabot Financial (Luxembourg) 10.375% 01/10/2019 Reg S LU GBP 11,353,187 14,841,739 0.73<br />
Ardagh Packaging Finance 7.375% 15/10/2017 Reg S IE EUR 10,370,227 11,075,750 0.54<br />
Ard Finance 11.125% 01/06/2018 Reg S LU EUR 9,885,896 10,134,690 0.50<br />
ALROSA Finance 7.75% 03/11/2020 Reg S LU USD 9,829,599 8,676,944 0.43<br />
Metinvest 8.75% 14/02/2018 Reg S NL USD 10,222,783 7,636,379 0.38<br />
Orion Engineered Carbons 10.00% 15/06/2018 Reg S DE EUR 6,634,980 7,226,266 0.35<br />
Rexam 6.75% VRN 29/06/2067 GB EUR 6,438,388 6,668,399 0.33<br />
Lafarge 8.875% 24/11/2016 EMTN FR EUR 5,357,132 6,395,579 0.31<br />
OI European Group 6.875% 31/03/2017 Reg S NL EUR 5,209,688 5,387,989 0.26<br />
Evraz Group 6.75% 27/04/2018 Reg S LU USD 6,831,572 5,313,220 0.26<br />
Ardagh (USA) 7.375% 15/10/2017 Reg S IE EUR 4,423,320 4,717,658 0.23<br />
Lecta 8.875% 15/05/2019 Reg S LU EUR 4,226,728 4,340,813 0.21<br />
Cemex Finance 9.375% 12/10/2022 Reg S US USD 4,914,800 3,971,531 0.20<br />
Norske Skogindustrier 7.00% 26/06/2017 NO EUR 5,209,688 3,881,869 0.19<br />
First Quantum Minerals 7.25% 15/10/2019 Reg S CA USD 4,669,060 3,701,864 0.18<br />
Hidili Industry Int’l Development 1.50% 19/01/2015 KY CNY 18,774,535 2,343,224 0.12<br />
Metinvest 10.25% 20/05/2015 Reg S NL USD 2,801,436 2,225,731 0.11<br />
HeidelbergCement Fin Lux 7.50% 03/04/2020 LU EUR 1,867,624 2,134,699 0.10<br />
Kerling 10.625% 01/02/2017 Reg S GB EUR 2,020,966 1,878,513 0.09<br />
AngloGold Holdings 3.50% 22/05/2014 Reg S GB USD 2,064,216 1,662,971 0.08<br />
HeidelbergCement Fin Lux 9.50% 15/12/2018 EMTN LU EUR 64,906 79,855 0.00<br />
Arkema 3.85% 30/04/2020 FR EUR 43,271 46,616 0.00<br />
Dow Chemical 4.125% 15/11/2021 US USD 43,271 36,500 0.00<br />
Rio Tinto Finance (USA) 9.00% 01/05/2019 AU USD 21,635 22,987 0.00<br />
AngloGold Holdings 5.375% 15/04/2020 GB USD 21,635 17,441 0.00<br />
Freeport-McMoRan Copper & Gold 3.55% 01/03/2022 US USD 17,308 13,607 0.00<br />
Teksid Aluminum 11.375% 15/07/2011 Reg S (Defaulted)* LU EUR 3,950,516 40 0.00<br />
Chesapeake 10.375% 15/11/2011 (Defaulted)* US GBP 320,445 4 0.00<br />
168,336,858 8.27<br />
Industrials<br />
Fiat Industrial Finance Europe 6.25% 09/03/2018 EMTN LU EUR 16,317,135 17,431,049 0.86<br />
Schaeffler Finance 8.75% 15/02/2019 Reg S NL EUR 9,239,823 10,441,000 0.51<br />
REFER - Rede Ferroviaria 5.875% 18/02/2019 EMTN PT EUR 10,419,375 8,992,530 0.44<br />
Wienerberger 6.50% VRN (Perpetual) AT EUR 11,675,598 8,815,234 0.43<br />
Rexel 7.00% 17/12/2018 FR EUR 7,372,200 8,073,314 0.40<br />
RZD Capital 7.487% 25/03/2031 Reg S IE GBP 4,521,616 6,736,848 0.33<br />
REFER - Rede Ferroviaria 4.25% 13/12/2021 PT EUR 6,684,128 4,280,626 0.21<br />
Zinc Capital 8.875% 15/05/2018 Reg S LU EUR 4,153,006 4,171,522 0.20<br />
Wendel 4.875% 26/05/2016 FR EUR 3,440,360 3,577,974 0.18<br />
Brunswick Rail Finance 6.50% 01/11/2017 Reg S IE USD 4,423,320 3,464,404 0.17<br />
228<br />
Country Ccy Shares or Market % Net<br />
Code Nominal Value Assets<br />
EUR<br />
Schaeffler Finance 7.75% 15/02/2017 Reg S NL EUR 3,096,324 3,418,574 0.17<br />
Obrascon Huarte Lain 7.625% 15/03/2020 Reg S ES EUR 1,474,440 1,473,731 0.07<br />
REFER - Rede Ferroviaria 4.047% 16/11/2026 PT EUR 1,965,920 1,344,198 0.07<br />
Lafarge Cement (UK) 10.75% 29/11/2013 GB GBP 688,072 936,763 0.05<br />
Eversholt Funding 5.831% 02/12/2020 EMTN GB GBP 43,271 63,143 0.00<br />
Glencore Finance Europe 4.125% 03/04/2018 LU EUR 43,271 46,272 0.00<br />
General Electric 5.25% 06/12/2017 US USD 43,271 39,616 0.00<br />
Great Rolling Stock 6.25% 27/07/2020 EMTN GB GBP 21,635 32,148 0.00<br />
Glencore Finance Europe 7.125% 23/04/2015 EMTN LU EUR 21,635 24,497 0.00<br />
Glencore Finance Europe 5.25% 22/03/2017 EMTN LU EUR 21,635 24,094 0.00<br />
General Electric 4.125% 09/10/2042 US USD 21,635 17,354 0.00<br />
Fedex 2.625% 01/08/2022 US USD 21,635 16,851 0.00<br />
83,421,742 4.10<br />
Information Technology<br />
Phones4u Finance 9.50% 01/04/2018 Reg S GB GBP 7,617,939 9,965,885 0.49<br />
eAccess 8.375% 01/04/2018 Reg S JP EUR 5,799,464 6,551,582 0.32<br />
NXP 3.507% FRN 15/10/2013 NL EUR 6,536,248 6,528,078 0.32<br />
Iliad 4.875% 01/06/2016 FR EUR 43,271 46,385 0.00<br />
Tyco Electronics Group 3.50% 03/02/2022 LU USD 21,635 17,268 0.00<br />
23,109,198 1.13<br />
Consumer Discretionary<br />
CPUK Finance 11.625% 28/02/2018 EMTN GB GBP 15,825,655 21,303,432 1.05<br />
Unitymedia Hessen 7.50% 15/03/2019 Reg S DE EUR 18,577,943 20,389,292 1.00<br />
Unitymedia Kabel BW 9.50% 15/03/2021 Reg S DE EUR 14,449,511 16,417,896 0.81<br />
Polish Television Holding 11.25% 15/05/2017 Reg S NL EUR 15,162,157 15,882,359 0.78<br />
Conti-Gummi Finance 7.50% 15/09/2017 Reg S NL EUR 12,532,739 13,466,366 0.66<br />
Conti-Gummi Finance 6.50% 15/01/2016 Reg S NL EUR 11,992,111 12,823,284 0.63<br />
Enterprise Inns 6.375% 26/09/2031 GB GBP 13,476,381 12,418,023 0.61<br />
Kabel Deutschl<strong>and</strong> Holding 6.50% 31/07/2017 Reg S DE EUR 10,910,855 11,699,530 0.57<br />
Nara Cable Funding 8.875% 01/12/2018 Reg S IE EUR 11,992,111 11,391,007 0.56<br />
Lottomatica 8.25% VRN 31/03/2066 Reg S IT EUR 9,864,003 9,946,284 0.49<br />
Gala Group Finance 8.875% 01/09/2018 Reg S GB GBP 7,961,975 9,894,464 0.49<br />
Daily Mail & General Trust6.375% 21/06/2027 GB GBP 8,158,567 9,854,509 0.48<br />
Central European Media Ent. 11.625% 15/09/2016 Reg S BM EUR 8,207,715 8,515,505 0.42<br />
Fiat Finance & Trade 6.375% 01/04/2016 LU EUR 7,077,312 7,091,615 0.35<br />
Nord Anglia Education (UK) 10.25% 01/04/2017 144A GB USD 8,355,159 7,053,132 0.35<br />
Seat Pagine Gialle 10.50% 31/01/2017 Reg S IT EUR 10,311,250 6,650,756 0.33<br />
Verisure Holding 8.75% 01/09/2018 Reg S SE EUR 6,192,648 6,607,710 0.32<br />
EN Germany Holdings 10.75% 15/11/2015 Reg S NL EUR 6,692,974 6,592,580 0.32<br />
Unitymedia Hessen 5.50% 15/09/2022 Reg S DE EUR 6,290,944 6,204,443 0.30<br />
Daily Mail & General Trust10.00% 09/04/2021 Reg S GB GBP 3,745,077 5,825,324 0.29<br />
House of Fraser Funding 8.875% 15/08/2018 Reg S GB GBP 4,619,912 5,794,612 0.28<br />
Fiat Finance & Trade 6.125% 08/07/2014 EMTN LU EUR 4,472,468 4,587,298 0.23<br />
Kabel Deutschl<strong>and</strong> 6.50% 29/06/2018 Reg S DE EUR 3,381,382 3,625,525 0.18<br />
Hyva Global 8.625% 24/03/2016 Reg S NL USD 4,423,320 3,199,768 0.16<br />
Fiat Finance & Trade 7.75% 17/10/2016 EMTN LU EUR 2,948,880 3,017,736 0.15<br />
Codere Fin. Lux. 8.25% 15/06/2015 Reg S (Secured) LU EUR 3,194,620 2,604,946 0.13<br />
Cyfrowy Polsat Finance 7.125% 20/05/2018 Reg S SE EUR 2,359,104 2,541,875 0.12<br />
Faurecia 9.375% 15/12/2016 EMTN FR EUR 2,211,660 2,421,229 0.12<br />
Thomas Cook 7.75% 22/06/2017 EMTN GB GBP 2,801,436 2,220,080 0.11<br />
Enterprise Inns 6.50% 06/12/2018 GB GBP 1,965,920 2,190,545 0.11<br />
Albea Beauty Holdings 8.75% 01/11/2019 Reg S LU EUR 2,015,068 2,073,908 0.10<br />
Seat Pagine Gialle IT EUR 200,966,159 1,567,536 0.08<br />
Codere Fin. Lux. 8.25% 15/06/2015 Reg S (Guaranteed) LU EUR 1,867,624 1,527,591 0.08<br />
Verisure Holding 8.75% 01/12/2018 Reg S SE EUR 982,960 938,751 0.05<br />
Time Warner Cable 5.50% 01/09/2041 US USD 21,635 19,410 0.00<br />
Time Warner Cable 4.125% 15/02/2021 US USD 21,635 18,581 0.00<br />
Technicolor 5.75% (Perpetual) (Defaulted)* FR EUR 3,735,248 37 0.00<br />
Truvo Subsidiary 8.50% 01/12/2014 Reg S (Defaulted)* US EUR 3,342,064 33 0.00<br />
Waterford Wedg. 9.875% 01/12/2010 Reg S (Defaulted)* IE EUR 2,280,467 23 0.00<br />
258,376,995 12.69<br />
Consumer Staples<br />
Bakkavor Finance 2 8.25% 15/02/2018 Reg S GB GBP 10,345,653 12,418,202 0.61<br />
Agrokor DD 9.125% 01/02/2020 Reg S HR EUR 9,829,599 10,163,806 0.50<br />
Co-Operative Group 5.625% 08/07/2020 GB GBP 6,782,424 8,669,835 0.43<br />
Agrokor DD 9.875% 01/05/2019 Reg S HR EUR 7,175,608 7,642,022 0.38<br />
Suedzucker Int’l Finance 5.25% VRN (Perpetual) NL EUR 4,619,912 4,795,450 0.24<br />
Co-Operative Group 6.25% 08/07/2026 GB GBP 982,960 1,260,151 0.06<br />
Anheuser-Busch InBev 2.875% 25/09/2024 EMTN BE EUR 43,271 44,447 0.00<br />
Procter & Gamble 2.00% 16/08/2022 Reg S US EUR 43,271 42,949 0.00<br />
Wal-Mart Stores 5.625% 15/04/2041 US USD 21,635 22,402 0.00<br />
Coca-Cola 3.30% 01/09/2021 US USD 21,635 18,540 0.00<br />
Procter & Gamble 1.45% 15/08/2016 US USD 21,635 17,143 0.00<br />
Reynolds American 1.05% 30/10/2015 US USD 21,635 16,716 0.00<br />
45,111,663 2.22<br />
Healthcare<br />
Eurofins Scientific 8.081% VRN (Perpetual) LU EUR 16,710,319 17,161,497 0.84<br />
Labco 8.50% 15/01/2018 Reg S FR EUR 8,576,325 8,577,260 0.42<br />
Care UK Health & Social Care 9.75% 01/08/2017 Reg S GB GBP 4,914,800 6,682,071 0.33<br />
*Security with price determined by the Directors.<br />
The ac<strong>com</strong>panying notes to the financial statements form an integral part of these financial statements. The percentage of net assets in the schedule of investments <strong>and</strong> in the geographical split is subject to rounding.
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