Fidelity Asia A

This is a diversified portfolio of stocks in the Far East excluding Japan.

  • 1408.00p Price (Inc)
  • - Price (Acc)
  • 3.50% 0.00% Initial charge
  • 1.50% Annual management charge
  • 1.76% Ongoing charges
  • 0.40% Yield

Prices as at 10 December 2019, fund data last updated 18 February 2013

The fund's manager has more than a decade of experience managing Asian equities. He invests across the company size spectrum but tends to focus on mid and large-cap names. The investment universe is the Far East region which excludes Japan, India and Australia and the manager has a very diverse portfolio. The portfolio is growth orientated and is likely to outperform its peers in rising markets.

Fund summary

Sector Asia Pacific Excluding Japan
Structure OEIC
Launched October, 1984
Size £2,966m
Yield 0.40%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 3.50%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.76%

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Investment process

The manager is a bottom up stock picker, who seeks to invest in growing companies in the Far East. This leads to a focus on stocks with above average earnings growth relative to their sector or the market, although the manager is conscious to pay only a "reasonable" price for these stocks. The manager draws on Fidelity's large team of locally based analysts to aid stock selection. Other factors targeted include strong management with a good track record through previous cycles, plus positive cash flows and evidence that the company is regionally or globally competitive in terms of pricing power. The portfolio is typically diversified by country, sector and company.

Manager research

Average monthly relative returns

  • 14/15 -0.35%
  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.10%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 54.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Teera Chanpongsang

Chanpongsang joined Fidelity in 1994 as a research analyst, becoming a portfolio manager in London in 2004 and moving to Hong Kong in 2007. Before joining Fidelity he worked as an auditor for Coopers & Lybrand from 1987-88 and as a general manager for Chi Cha Group from 1988-1992 - both roles were in Bangkok. Chanpongsang has a BA in Accounting from Chulalongkorn University, Thailand and an MBA from the University of California at Berkeley.

Track record

Teera Chanpongsang has 6.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.1%. During the worst period of relative performance (from August 1998 - August 2004) there was a decline of 19% relative to the index. The worst absolute loss has been 63%.

Periods of worst performance

Absolute -63.00% (June 1999 - October 2001)
Relative -19.00% (August 1998 - August 2004)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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Top 10 holdings

Data accurate as at 31 July 2019

7.2602% Tencent Hldgs Ltd
6.1672% Aia Group Ltd
6.1304% Taiwan Semiconductor Manufacturing
5.8369% Alibaba Group Hldg Ltd
4.9827% Samsung Electronics Co
3.5485% Hdfc Bank Ltd
2.6733% Kweichow Moutai
2.2346% Bank Central Asia
2.1989% Housing Development Finance Corp
2.0591% Industrial & Com Bk China
Source: Trustnet

Sector breakdown

Financials 32.00%
Information Technology 18.00%
Consumer Discretionary 17.00%
Communications 9.00%
Consumer Staples 8.00%
Energy 4.00%
Health Care 3.00%
Industrials 3.00%
Real Estate 2.00%
Money Market 1.00%

Portfolio

120-220 stocks

Constraints

Sector and country weights typically within +/- 10% of the index, stock weights within +/- 5%

Key Investor Information

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