A concentrated portfolio of typically 20-35 stocks 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 focus on diversification and risk management.
A concentrated approach, so that you can access our best ideas in Asia
Informed by 50+ years' experience investing in the region
Access to 60+ on-the-ground research professionals in Asia
Anthony Srom, Portfolio Manager of the Fidelity Asia Fund describes the most important factors of his investment process, how he finds his best ideas from around Asia and the importance of managing risk.
Portfolio Manager, Anthony Srom for the Fidelity Asia Fund explains the key tenants of the Fund's outperformance and why he thinks this makes it a good choice for those wanting exposure to Asia.
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 June 2025
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 for the Fidelity Asia Fund is MSCI AC Asia ex-Japan, effective 1 January 2010. Benchmark data prior to 1 January 2010 is a blend of the MSCI AC Asia (ex-Japan) index and the MSCI AC Far East (ex-Japan) index. The major difference between the two indices is the inclusion of India in the MSCI AC 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 returns as at 30 June 2025
| 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 | 17.86 | 6.94 | 8.47 | 8.39 | 10.21 | 10.89 | 9.79 |
| Benchmark | 19.04 | 11.01 | 7.47 | 6.53 | 7.10 | 7.89 | 7.70 |
| Active return | -1.18 | -4.07 | 1.00 | 1.86 | 3.11 | 3.00 | 2.09 |
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 for the Fidelity Asia Fund is MSCI AC Asia ex-Japan, effective 1 January 2010. Benchmark data prior to 1 January 2010 is a blend of the MSCI AC Asia (ex-Japan) index and the MSCI AC Far East (ex-Japan) index. The major difference between the two indices is the inclusion of India in the MSCI AC 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 June 2025
| 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 | 17.86 | 6.94 | 8.47 | 8.39 | 10.21 | 10.89 | 9.79 |
| Growth | 15.74 | 5.59 | 6.11 | 5.04 | 6.22 | 7.69 | 5.40 |
| Income | 2.12 | 1.35 | 2.36 | 3.35 | 3.99 | 3.20 | 4.38 |
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 for the Fidelity Asia Fund is MSCI AC Asia ex-Japan, effective 1 January 2010. Benchmark data prior to 1 January 2010 is a blend of the MSCI AC Asia (ex-Japan) index and the MSCI AC Far East (ex-Japan) index. The major difference between the two indices is the inclusion of India in the MSCI AC 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.
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 30-Jun-25 | 115.3347 | $27.1054 |
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.
As at 31 May 2025
As at 31 May 2025
As at 31 May 2025
| % total net assets | |
|---|---|
| HDFC BANK LTD | 11.5% |
| TAIWAN SEMICONDUCTOR MFG CO LTD | 9.2% |
| TENCENT HLDGS LTD | 8.8% |
| SEA LTD | 7.4% |
| TECHTRONIC INDUSTRIES CO LTD | 6.7% |
| YUM CHINA HOLDINGS INC | 5.8% |
| AIA GROUP LTD | 5.7% |
| ZIJIN MNG GROUP CO LTD | 4.9% |
| NAVER CORP | 4.8% |
| ANTA SPORTS PRODUCTS LTD | 4.4% |
As at 31 May 2025
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| HDFC BANK LTD | 11.5 | 1.8 | 9.7 |
| SEA LTD | 7.4 | 0.8 | 6.6 |
| TECHTRONIC INDUSTRIES CO LTD | 6.7 | 0.2 | 6.5 |
| YUM CHINA HOLDINGS INC | 5.8 | 0.2 | 5.6 |
| ZIJIN MNG GROUP CO LTD | 4.9 | 0.2 | 4.7 |
As at 31 May 2025
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| ALIBABA GROUP HOLDING LTD | 0.0 | 3.2 | -3.2 |
| SAMSUNG ELECTRONICS CO LTD | 0.0 | 3.0 | -3.0 |
| TAIWAN SEMICONDUCTOR MFG CO LTD | 9.2 | 10.9 | -1.7 |
| XIAOMI CORP | 0.0 | 1.5 | -1.5 |
| RELIANCE INDUSTRIES LTD | 0.0 | 1.4 | -1.4 |
| Organisation | Rating |
|---|---|
| Lonsec | Highly Recommended4 The Lonsec Report is only available to financial advisers, please contact us for a copy. |
| Morningstar | Silver5 |
| Zenith | Highly Recommended6 |
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.
1 Management fees and costs are current as at the date shown above but may be subject to change in the future. Management fees and costs include management fees, estimated indirect costs, the net effect of GST and exclude abnormal expenses, transaction costs and any performance fee payable.
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.
