Investment objective
To achieve returns in excess of the MSCI AC Asia (ex-Japan) Index NR over the suggested minimum investment time period of five to seven years.
Access to a concentrated high conviction portfolio of typically between 20 to 35 companies across Asia.
Uses a bottom-up stock selection process that favours companies with a compelling business model, above average earnings rate, increasing returns on equity over time and attractive valuations.
A disciplined portfolio construction process with a 'one stock in, one stock out' approach designed to increase the prospect of each company making a meaningful contribution.
Key facts
Fund performance2
Net returns as at 30 June 2021
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | 40.65 | 28.07 | 12.58 |
| 3 yr % pa | 18.08 | 11.63 | 6.45 |
| 5 yr % pa | 18.35 | 14.32 | 4.03 |
| 7 yr % pa | 18.24 | 12.36 | 5.88 |
| 10 yr % pa | 15.80 | 10.90 | 4.90 |
| 15 yr % pa | 11.26 | 8.30 | 2.96 |
| Since inception (29/09/05) % pa | 11.95 | 8.96 | 2.99 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
15 yr % pa |
Since inception (29/09/05) % pa |
|---|---|---|---|---|---|---|---|
| Fund | 40.65 | 18.08 | 18.35 | 18.24 | 15.80 | 11.26 | 11.95 |
| Benchmark | 28.07 | 11.63 | 14.32 | 12.36 | 10.90 | 8.30 | 8.96 |
| Active return | 12.58 | 6.45 | 4.03 | 5.88 | 4.90 | 2.96 | 2.99 |
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. Benchmark: MSCI AC Asia ex-Japan Index NR, effective 1 January 2010. Benchmark data prior to 1 January 2010 is a blend of the MSCI Asia ex-Japan index and the MSCI Far East (ex Japan) index. NR: NR at the end of the benchmark name indicates the return is calculated including reinvesting net dividends. The dividend is reinvested after deduction of withholding tax, applying the withholding tax rate to non-resident individuals who do not benefit from double taxation treaties.
See for yourself how the fund has performed since inception. The chart below represents the value now of $10,000 invested in the Fidelity Asia Fund in September 2005 compared with $10,000 invested in the MSCI AC ex-Japan Index NR.
Chart as at: 30 June 2021
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. Benchmark: MSCI AC Asia ex-Japan Index NR, effective 1 January 2010. Benchmark data prior to 1 January 2010 is a blend of the MSCI Asia ex-Japan index and the MSCI Far East (ex Japan) index. NR: NR at the end of the benchmark name indicates the return is calculated including reinvesting net dividends. The dividend is reinvested after deduction of withholding tax, applying the withholding tax rate to non-resident individuals who do not benefit from double taxation treaties.
Net as at 30 June 2021
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | 40.65 | 38.85 | 1.8 |
| 3 yr % pa | 18.08 | 13.35 | 4.73 |
| 5 yr % pa | 18.35 | 13.89 | 4.46 |
| 7 yr % pa | 18.24 | 13.51 | 4.73 |
| 10 yr % pa | 15.8 | 12.02 | 3.78 |
| 15 yr % pa | 11.26 | 6.12 | 5.14 |
| Since inception (29/09/05) % pa | 11.95 | 7.04 | 4.91 |
| 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
10 yr % pa |
15 yr % pa |
Since inception (29/09/05) % pa |
|
|---|---|---|---|---|---|---|---|
| Total return | 40.65 | 18.08 | 18.35 | 18.24 | 15.8 | 11.26 | 11.95 |
| Growth | 38.85 | 13.35 | 13.89 | 13.51 | 12.02 | 6.12 | 7.04 |
| Income | 1.8 | 4.73 | 4.46 | 4.73 | 3.78 | 5.14 | 4.91 |
Growth return is the unit price movement on exit to exit basis. Income is expressed as Total Return less growth component.
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. Benchmark: MSCI AC Asia ex-Japan Index NR, effective 1 January 2010. Benchmark data prior to 1 January 2010 is a blend of the MSCI Asia ex-Japan index and the MSCI Far East (ex Japan) index. NR: NR at the end of the benchmark name indicates the return is calculated including reinvesting net dividends. The dividend is reinvested after deduction of withholding tax, applying the withholding tax rate to non-resident individuals who do not benefit from double taxation treaties.
Sectors, holdings and distributions
As at 30 June 2021
As at 30 June 2021
| % total net assets | |
|---|---|
| TAIWAN SEMICONDUCTOR MFG CO LTD | 9.9% |
| ALIBABA GROUP HOLDING LTD | 9.6% |
| KWEICHOW MOUTAI CO LTD | 7.6% |
| HDFC BANK LTD | 6.5% |
| HANGZHOU HIK-V DIG TECH CO LTD | 5.9% |
| TECHTRONIC INDUSTRIES CO LTD | 5.5% |
| BEIJING ORIENTAL YUHONG WATERFROOF TECHNOLOGY CO LTD | 4.9% |
| ASML HOLDING NV | 4.4% |
| HON HAI PRECISION IND CO LTD | 4.0% |
| SK HYNIX INC | 4.0% |
As at 30 June 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| KWEICHOW MOUTAI CO LTD | 7.6 | 0.3 | 7.3 |
| HDFC BANK LTD | 6.5 | 0.0 | 6.5 |
| HANGZHOU HIK-V DIG TECH CO LTD | 5.9 | 0.0 | 5.9 |
| TECHTRONIC INDUSTRIES CO LTD | 5.5 | 0.3 | 5.2 |
| BEIJING ORIENTAL YUHONG WATERFROOF TECHNOLOGY CO LTD | 4.9 | 0.0 | 4.9 |
As at 30 June 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| TENCENT HLDGS LTD | 0.0 | 5.7 | -5.7 |
| SAMSUNG ELECTRONICS CO LTD | 0.0 | 5.3 | -5.3 |
| MEITUAN | 0.0 | 2.0 | -2.0 |
| RELIANCE INDUSTRIES LTD | 0.0 | 1.1 | -1.1 |
| CHINA CONSTRUCTION BANK | 0.0 | 1.0 | -1.0 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 167.2308 | $27.5290 |
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. If the Distribution CPU column is 0.0000 it means that nothing was distributed.
Fund downloads
- Additional Information
- Quarterly top 10 holdings(718.29KB)
- Infographic: Asia(124.28KB)
- The case for Asia(687.71KB)
- Fund flyer(624.76KB)
- Product Disclosure Statement(108.10KB)
- Application form(653.34KB)
- Fund fact sheet(97.61KB)
Fund ratings3
| Organisation | Rating |
|---|---|
| Lonsec | Rated4 The Lonsec Report is only available to financial advisers, please contact us for a copy. |
| Morningstar | Bronze5 |
| Zenith | Highly Recommended6 |
Category winner: International Equities - Emerging Markets and Regional
Category winner: International Equities - Emerging Markets and Regional
Morningstar 2020 Australia Fund Manager of the Year8
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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.
1Management 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.
2Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax. Returns of more than one year are annualised. The return of capital is not guaranteed.
Why this fund
Access the growth opportunities of this region via a concentrated high conviction portfolio which has delivered relatively strong performance since its inception in 2005.
A strong fifteen-year track record, backed by 50 years' experience in Asia, informed by 38 on-the-ground research professionals and 400 investment experts around the world.
This concentrated approach allows the portfolio manager to focus more time on specific stocks and thereby generates a greater chance of meaningful contribution
Meet Anthony Srom
What three advantages does the Fidelity Asia Fund offer to clients? Anthony Srom, Portfolio Manager of the Fidelity Asia Fund describes the most important elements of his investment process and how he aims to bring the best ideas in the region into the portfolio and managing the risk around it.
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In our recent client call, CIO Paras Anand took investors through the spate of regulatory actions across several sectors in China which saw Chinese equities plunge. Read the summary of the call where we discuss the policy impacts.
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Awards6
Fidelity International has won two categories at the 2019 Zenith Fund Award - International equities – emerging markets & regional and Australian equities - small cap4. Fidelity was also a finalist for Fund Manager of the Year.
The annual awards were held in Sydney on 11 October 2019. The award points to the skill and expertise of Fidelity’s investment team across Fidelity’s Future Leaders Fund, Asia Fund, and Global Emerging Markets Fund. It is awarded in the name of Fidelity rather than to a specific fund.
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.
1Management 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.
2Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax. Returns of more than one year are annualised. The return of capital is not guaranteed.