Search

Fidelity China Fund

See all Fidelity Funds

Access the China growth story through this diversified fund, with rare access to the domestic China 'A' share market.  Run with a ‘contrarian’ approach this fund unearths overlooked investment opportunities.

  • Portfolio holdings are driven by a bottom-up stock-selection approach.
  • The Portfolio Manager is aware of the macro environment and policy changes, but believes bottom-up company specific research adds the most value when investing in China. 
  • Favours companies that demonstrate a good business model and sensible management, that are undervalued or out-of-favour.
  • Exploits the research capabilities of Fidelity analysts based in China and Hong Kong.

Fund facts

Fund size
(at 24/11/14)
A$92.23M
Benchmark
MSCI China Index
Portfolio manager
Jing Ning
Location
Hong Kong
Appointed to fund
31 October 2013
Unit prices
(at 24/11/14)^^
23.7447 / 23.5555
Download History
Buy/sell spread
0.40%/0.40%
APIR code
FID0011AU
Distribution frequency
Annually
Management costs^
1.20% p.a.
Currency
Australian Dollar
Inception date
29 September 2005
ARSN code
116072649

Past performance net returns as at 31/10/14

Timeframe 1 mth
%
3 mth
%
6 mth
%
1 yr
% pa
3 yr
% pa
5 yr
% pa
7 yr
% pa
Since inception
(29/09/05) % pa
Fund* 3.69 4.30 19.62 13.36 14.03 4.54 -0.84 13.09
Benchmark** 3.84 3.52 20.41 14.64 14.84 3.84 -3.25 10.07
Active return -0.15 0.78 -0.79 -1.28 -0.81 0.70 2.41 3.02

Growth and income net as at 31/10/2014

1 yr
% pa
3 yr
% pa
5 yr
% pa
7 yr
% pa
Since inception
(29/09/05) % pa
Total return 13.36 14.03 4.54 -0.84 13.09
Growth 11.48 12.30 3.33 -3.4 9.50
Income 1.88 1.73 1.21 2.56 3.59

Distributions

Latest distribution Distribution (CPU)* Reinvestment price
30-Sep-14 0.0000 $22.0065

*CPU = cents per unit. The above cash CPU excludes imputation credits and foreign income tax offsets which are non-cash components and are reported in the end of year tax statement.

Sector breakdown as at 31/10/14

Fund ratings

Organisation Rating More Information
Lonsec Fund rating not publicly available1 Visit Lonsec's website
Zenith Approved2 Visit Zenith's website
van Eyk Fund rating not publicly available3 Visit van Eyk's website

See ratings disclaimers

Investment objective

To achieve returns in excess of the MSCI China Index over the suggested minimum investment time period of five to seven years.

Meet the manager

    More videos

    Latest investment insights

    India is poised to achieve a rare economic feat over China
    India is poised to achieve a rare economic feat over China

    It's happened only once since 1990.

    Look beyond the current volatility with stocks
    Look beyond the current volatility with stocks

    For there are reasons not to be anxious.

    China’s admired autocratic model is built on myths
    China’s admired autocratic model is built on myths

    The reality boosts the country's economic risks.

    Sign-up for Insights emails More Insights

    Top 10 holdings as at 31/10/2014

    % total net assets
    Tencent Holdings Ltd 6.9%
    Industrial & Commercial Bank China 5.7%
    China Life Insurance Co Ltd 5.6%
    China Construction Bank Corp 5.6%
    CNOOC Ltd 4.4%
    China Petroleum & Chem Corp 4.2%
    China Mobile Ltd 3.9%
    China Overseas Land & Inv Ltd 3.5%
    China Merchants Bank Co Ltd 2.9%
    Ping An Ins Group Co China Ltd 2.7%

    Top overweight positions as at 31/10/14

    Fund % Index % Relative %
    China Life Insurance Co Ltd 5.6 2.8 2.8
    Gree Elec Appl Inc 2.3 0.0 2.3
    China Overseas Land & Inv Ltd 3.5 1.5 2.0
    Saic Motor Corporation Ltd 1.9 0.0 1.9
    China Merchants Bank Co Ltd 2.9 1.1 1.8

    Top underweight positions as at 31/10/14

    Fund % Index % Relative %
    China Mobile Ltd 3.9 9.6 -5.7
    Bank China Ltd 0.0 4.8 -4.8
    Tencent Holdings Ltd 6.9 10.3 -3.4
    Petrochina Co Ltd 2.0 3.3 -1.3
    China Construction Bank Corp 5.6 6.8 -1.2

    Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Returns of the Fund can be volatile and in some periods may be negative. The return of capital is not guaranteed. *The returns shown have been calculated using the net asset value of the Fund from one period to the next. The returns include any re-invested distributions and are after fees and expenses. No allowance has been made for taxation or for any fees charged by operators of master trusts or wrap accounts through which the products are offered. For periods greater than one year returns have been annualised. Growth return is the unit price movement on exit to exit basis. Income is expressed as Total Return less growth component. **MSCI China Index

    This Fund is unhedged and is subject to the risk of fluctuations in international stock markets and currencies. Investors accessing the Fund through a master trust or wrap account will also bear any fees charged by the operator of such master trust or wrap account. Any apparent discrepancies in the numbers are due to rounding.
    ^Management Costs and buy/sell spread are current as at the date of publication of this website. These fees may be subject to change in the future. ^^These application and redemption prices are current as at the time of this communication, but are not the guaranteed prices you will receive should you apply for or redeem any units on or after the time of this communication, because the actual price may be calculated by reference to a different date.

    You should refer to respective research houses (and their disclaimers below) to obtain further information about the meaning of the rating and the rating scale. Ratings are only one factor to be taken into account when deciding whether to invest. Ratings are subject to change without notice and may not be regularly updated. Ratings are current as at July 2014. Fidelity pays a fee to some research houses for rating our funds.

    This document has been prepared without taking into account your objectives, financial situation or needs. You should consider these matters before acting on the information. You should also consider the Product Disclosure Statements (“PDS”) for Fidelity products named in this document before making a decision whether to acquire or hold the product.  The relevant PDS can be obtained by contacting FIL Responsible Entity (Australia) Limited ABN 33 148 059 009, AFSL No. 409340 (“Fidelity Australia”) on 1800 119 270 or by downloading from our website at www.fidelity.com.au . This document may not be reproduced or transmitted without the prior written permission of Fidelity Australia.  The issuer of Fidelity’s managed investment schemes is FIL Responsible Entity (Australia) Limited ABN 33 148 059 009.

    1. The Lonsec Rating (assigned July 2014) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421445. The Rating is a "class service" (as defined in the Financial Advisers Act 2008 (NZ)) or is limited to "General Advice" and based solely on consideration of the investment merits of the financial product(s). In New Zealand it must only be provided to "wholesale clients" (as defined in the Financial Advisers Act 2008 (NZ)). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Fidelity product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria. For further information regarding Lonsec’s Ratings methodology, please refer to our website at: http://www.beyond.lonsec.com.au/intelligence/lonsec-ratings

    2. The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned December 2013) referred to in this document is limited to “General Advice” (as defined by the Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessment’s and at http://www.zenithpartners.com.au/RegulatoryGuidelines

    3. van Eyk Research Pty Ltd ABN 99 010 664 632, corporate authorised representative of van Eyk Financial Group Pty Ltd ABN 28 149 679 078, AFSL 402146 (authorised representative number 408625) (van Eyk) rates investment management capabilities rather than individual products. This rating is valid as at June 2010 but can change or cease at anytime and should not be relied upon without referring to the meaning of the rating, as well as the full manager report, available to subscribers at www.iRate.vaneyk.com.au. Past performance information given in this document is given for illustrative purposes only and should not be relied upon as it is not an indication of future performance. van Eyk has not directed the publication of FIL Investment Management (Australia) Limited ‘s rating. The rating is not intended to influence you and your client’s investment decision in relation to any products managed by FIL Investment Management (Australia) Limited and does not take into account your client’s individual financial situation, needs or objectives. We recommend that you and your client do not rely on this rating in making an investment decision and instead you seek advice from an appropriate investment adviser and read the product disclosure statement before making such a decision.

    This website is intended to provide general information only and has been prepared without taking into account your objectives, financial situation or needs. You should consider these matters before acting on the information and consider the relevant Product Disclosure Statement for any product named on this website before making an investment decision.

    © 2014 FIL Responsible Entity (Australia) Limited ABN 33 148 059 009, AFSL No. 409340.
    Fidelity, Fidelity Worldwide Investment and the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL limited.

    This document is issued by FIL Responsible Entity (Australia) Limited ABN 33 148 059 009, AFSL No. 409340 ("Fidelity Australia"). Fidelity Australia is a member of the FIL Limited group of companies commonly known as Fidelity Worldwide Investment. Prior to making an investment decision retail investors should seek advice from their financial adviser. Please remember past performance is not a guide to the future. Investors should also obtain and consider the Product Disclosure Statements ("PDS") for the fund mentioned in this document. The PDS is available on www.fidelity.com.au or can be obtained by contacting Fidelity Australia on 1800 119 270. This document has been prepared without taking into account your objectives, financial situation or needs. You should consider such matters before acting on the information contained in this document. This document may include general commentary on market activity, industry or sector trends or other broad based economic or political conditions which should not be construed as investment advice. Information stated herein about specific securities is subject to change. Any reference to specific securities should not be construed as a recommendation to buy, sell or hold these securities. While the information contained in this document has been prepared with reasonable care no responsibility or liability is accepted for any errors or omissions or misstatements however caused. The document may not be reproduced or transmitted without prior written permission of Fidelity Australia. The issuer of Fidelity funds is FIL Responsible Entity (Australia) Limited ABN 33 148 059 009. References to ($) are in Australian dollars unless stated otherwise. © 2014 FIL Responsible Entity (Australia) Limited. Fidelity, Fidelity Worldwide Investment, and the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited.