Fidelity China Consumer W

Targets long term capital growth by investing in Chinese equities

  • 399.10p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.75%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.06%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.10%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 07 May 2021

The fund aims to achieve long-term capital growth through investing primarily in equity securities of companies having their head office or exercising a predominant part of their activities in China or Hong Kong. These companies are involved in the development, manufacture or sales of goods or services to consumers in China. The fund may invest its net assets directly in China A and B Shares.

Fund summary

Sector China/Greater China
Structure OEIC
Launched March, 2014
Size £329m
Yield 0.10%
Charging basis
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 1.06%

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Investment process

The fund aims to achieve long-term capital growth through investing primarily in equity securities of companies having their head office or exercising a predominant part of their activities in China or Hong Kong. These companies are involved in the development, manufacture or sales of goods or services to consumers in China.

Manager research

Average monthly relative returns

  • 16/17 0.04%
  • 17/18 -0.27%
  • 18/19 0.55%
  • 19/20 0.07%
  • 20/21 0.49%

Bestinvest MRI

  • 3 years 0.37%
  • 5 years 0.18%
  • Career 0.34%
  • 3 years 93.20%
  • 5 years 87.50%
  • Career 97.90%

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

Raymond Ma

Ma joined Fidelity International (Hong Kong) Ltd. in 2006 as an investment analyst, covering China telecoms, consumer and financials. He was appointed consumer sector leader in 2009 and director of research in 2010. Previously, Ma was Assistant Director of BNP Paribas Peregrine in Shanghai where he had extensive sector coverage on automotive, food & beverages, retail, textile, tourism, machinery and property. He has both a Bachelor of Law degree and a Master of Law degree from Fudan University, Shanghai.

Track record

Raymond Ma has 9.6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.34%. During the worst period of relative performance (from February 2014 - April 2015) there was a decline of 19% relative to the index. The worst absolute loss has been 25%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 98%.

Periods of worst performance

Absolute -25.00% (May 2015 - September 2015)
Relative -19.00% (February 2014 - April 2015)

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.

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Key Investor Information

Download