Invests into typically between 50 to 80 Chinese companies.
Uses a bottom-up stock selection process that focuses on quality business models and management teams out of favour due to short-term macro reasons.
Through a rigorous portfolio construction process, the best ideas likely to benefit from the country's growth dynamics will be selected for the portfolio.
Actively managed, with the Portfolio Manager's 20+ years' experience investing in China and rare access to local companies.
Access to China's growth story by investing in some of the best undiscovered opportunities.
A proven investment approach informed by 60+ on-the-ground analysts in Asia with 17 dedicated to Chinese equities.
See for yourself how the fund has performed since inception. The chart below represents the value now of $10,000 invested in the Fidelity China Fund in September 2005 compared with $10,000 invested in the MSCI China Index NR.
Chart as at: 30 June 2024
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 China 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 2024
| 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 | -10.23 | -3.74 | -1.30 | 2.16 | 7.54 | 5.81 | 9.55 |
| Benchmark | -1.94 | -14.39 | -3.31 | 0.63 | 4.96 | 3.88 | 6.77 |
| Active return | -8.29 | 10.65 | 2.01 | 1.53 | 2.58 | 1.93 | 2.78 |
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 China 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 2024
| 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 | - | - | - | 2.16 | 7.54 | 5.81 | 9.55 |
| Growth | - | - | - | - | 0.29 | 0.68 | 4.02 |
| Income | 5.80 | 7.36 | 8.52 | 9.00 | 7.24 | 5.13 | 5.54 |
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 China 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-24 | 91.1365 | $20.0051 |
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 30 June 2024
As at 30 June 2024
| % total net assets | |
|---|---|
| ALIBABA GROUP HOLDING LTD | 7.3% |
| CHINA CONSTRUCTION BANK | 5.0% |
| TENCENT HLDGS LTD | 4.8% |
| INDUSTRIAL & COML BK CHINA | 4.8% |
| PROSUS NV | 4.7% |
| CHINA MERCHANTS BANK CO LTD | 3.5% |
| CHINA OILFIELD SVCS LTD | 3.3% |
| ENN ENERGY HLDGS LTD | 3.1% |
| TRIP.COM GROUP LTD | 3.0% |
| BOC AVIATION LTD | 2.9% |
As at 30 June 2024
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| PROSUS NV | 4.7 | 0.0 | 4.7 |
| CHINA OILFIELD SVCS LTD | 3.3 | 0.1 | 3.2 |
| BOC AVIATION LTD | 2.9 | 0.1 | 2.8 |
| ENN ENERGY HLDGS LTD | 3.1 | 0.3 | 2.8 |
| YIXINGTANG PHARMACEUTICAL CO LTD | 2.6 | 0.0 | 2.6 |
As at 30 June 2024
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| TENCENT HLDGS LTD | 4.8 | 16.6 | -11.8 |
| PDD HOLDINGS INC | 1.4 | 4.2 | -2.8 |
| BANK OF CHINA LTD | 0.0 | 2.1 | -2.1 |
| NETEASE INC | 0.0 | 1.9 | -1.9 |
| BYD CO LTD | 0.0 | 1.8 | -1.8 |
|
Organisation
|
Rating
|
|---|---|
|
Lonsec
|
Investment grade4
The Lonsec report is only available to financial advisers, please contact us for a copy
|
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.
