Investment objective
To achieve returns in excess of the MSCI All Country Asia ex-Japan Index NR over the medium to long term.
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 September 2021
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | 24.50 | 13.53 | 10.97 |
| 3 yr % pa | 15.22 | 9.25 | 5.97 |
| 5 yr % pa | 15.92 | 11.41 | 4.51 |
| 7 yr % pa | 16.06 | 10.48 | 5.58 |
| 10 yr % pa | 16.61 | 11.77 | 4.84 |
| 15 yr % pa | 10.46 | 7.48 | 2.98 |
| Since inception (29/09/05) % pa | 11.39 | 8.41 | 2.98 |
| 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 | 24.50 | 15.22 | 15.92 | 16.06 | 16.61 | 10.46 | 11.39 |
| Benchmark | 13.53 | 9.25 | 11.41 | 10.48 | 11.77 | 7.48 | 8.41 |
| Active return | 10.97 | 5.97 | 4.51 | 5.58 | 4.84 | 2.98 | 2.98 |
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 All Country Asia 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 All Country Asia ex-Japan Index NR.
Chart as at: 30 September 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 All Country Asia 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 September 2021
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | 24.5 | 17.37 | 7.13 |
| 3 yr % pa | 15.22 | 11.58 | 3.64 |
| 5 yr % pa | 15.92 | 11.16 | 4.76 |
| 7 yr % pa | 16.06 | 10.71 | 5.35 |
| 10 yr % pa | 16.61 | 12.14 | 4.47 |
| 15 yr % pa | 10.46 | 5.93 | 4.53 |
| Since inception (29/09/05) % pa | 11.39 | 6.18 | 5.21 |
| 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 | 24.5 | 15.22 | 15.92 | 16.06 | 16.61 | 10.46 | 11.39 |
| Growth | 17.37 | 11.58 | 11.16 | 10.71 | 12.14 | 5.93 | 6.18 |
| Income | 7.13 | 3.64 | 4.76 | 5.35 | 4.47 | 4.53 | 5.21 |
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 All Country Asia 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 September 2021
As at 30 September 2021
| % total net assets | |
|---|---|
| TAIWAN SEMICONDUCTOR MFG CO LTD | 9.8% |
| KWEICHOW MOUTAI CO LTD | 7.5% |
| HDFC BANK LTD | 7.2% |
| ALIBABA GROUP HOLDING LTD | 7.1% |
| BEIJING ORIENTAL YUHONG WATERFROOF TECHNOLOGY CO LTD | 6.4% |
| TECHTRONIC INDUSTRIES CO LTD | 6.1% |
| SK HYNIX INC | 4.8% |
| ASML HOLDING NV | 4.7% |
| HANGZHOU HIK-V DIG TECH CO LTD | 4.4% |
| HON HAI PRECISION INDUSTRY CO LTD | 4.3% |
As at 30 September 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| KWEICHOW MOUTAI CO LTD | 7.5 | 0.3 | 7.2 |
| HDFC BANK LTD | 7.2 | 0.0 | 7.2 |
| BEIJING ORIENTAL YUHONG WATERFROOF TECHNOLOGY CO LTD | 6.4 | 0.0 | 6.4 |
| TECHTRONIC INDUSTRIES CO LTD | 6.1 | 0.4 | 5.7 |
| ASML HOLDING NV | 4.7 | 0.0 | 4.7 |
As at 30 September 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| SAMSUNG ELECTRONICS CO LTD | 0.0 | 5.1 | -5.1 |
| TENCENT HLDGS LTD | 1.8 | 5.0 | -3.2 |
| MEITUAN | 0.0 | 1.9 | -1.9 |
| RELIANCE INDUSTRIES LTD | 0.0 | 1.4 | -1.4 |
| INFOSYS LTD | 0.0 | 1.1 | -1.1 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 30-Jun-21 | 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(718.88KB)
- Infographic: Asia(124.37KB)
- The case for Asia(684.10KB)
- Fund flyer(628.71KB)
- Product Disclosure Statement(1.93MB)
- Application form(628.30KB)
- Fund fact sheet(81.61KB)
- Target Market Determination (TMD)
Fund ratings3
| Organisation | Rating |
|---|---|
| Lonsec | Highly Recommended4 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
Get Fidelity insights
Fidelity Insights is a free, monthly e-newsletter that brings you valuable and distilled investment insights, opinion and education.
Thank you. You have been subscribed and will receive a confirmation email shortly.
Related insights
Asia Q4 2021 Outlook
Discover the latest insights on Asia's growth story from Paras Anand, Fidelity’s Chief Investment Officer for Asia Pacific, and how it's creating opportunities for investors. In this quarter’s update, Paras dissects areas to look out for as the US Federal Reserve’s much-anticipated tapering of its asset purchase program and a slowdown in China unsettles markets.
A new rubric? China's new model for dealing with income inequality and data
Fidelity’s Chief China Economist Mo Ji, together with Fidelity Analysts, explains that while new regulations in China will cause some serious short-term disruptions, they believe they have the potential to bolster China’s long-term growth prospects.
Asia eyes a tantrum-free taper this time
A faster-than-expected tapering by the Federal Reserve remains a risk at the margin for Asian bond markets, but investors have been reassured by the latest policy signals. Moreover, unlike the ‘taper tantrum’ of 2013, Asian economies today are much better positioned to weather most storms.
After the selloff: What's next for Chinese equities?
A spate of regulatory actions across several sectors in China reached a recent crescendo that rattled markets and sent shares tumbling. But some of this selling appears overdone, creating opportunities for investors where long-term growth remains intact and policy impact is neutral - or positive.
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 sixeen-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.
Related insights
Asia Q4 2021 Outlook
Discover the latest insights on Asia's growth story from Paras Anand, Fidelity’s Chief Investment Officer for Asia Pacific, and how it's creating opportunities for investors. In this quarter’s update, Paras dissects areas to look out for as the US Federal Reserve’s much-anticipated tapering of its asset purchase program and a slowdown in China unsettles markets.
A new rubric? China's new model for dealing with income inequality and data
Fidelity’s Chief China Economist Mo Ji, together with Fidelity Analysts, explains that while new regulations in China will cause some serious short-term disruptions, they believe they have the potential to bolster China’s long-term growth prospects.
Asia eyes a tantrum-free taper this time
A faster-than-expected tapering by the Federal Reserve remains a risk at the margin for Asian bond markets, but investors have been reassured by the latest policy signals. Moreover, unlike the ‘taper tantrum’ of 2013, Asian economies today are much better positioned to weather most storms.
After the selloff: What's next for Chinese equities?
A spate of regulatory actions across several sectors in China reached a recent crescendo that rattled markets and sent shares tumbling. But some of this selling appears overdone, creating opportunities for investors where long-term growth remains intact and policy impact is neutral - or positive.
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.