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Fidelity Asia Class W - Accumulation (GBP)

Sell:1,603.00p Buy:1,603.00p Change: No change
Prices as at 13 August 2020
Change: No change
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 13 August 2020
Change: No change
Prices as at 13 August 2020
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund does not feature on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. This is not a recommendation to sell; however, if you are thinking of adding to your investments, we believe the Wealth Shortlist is a good place to start. View funds on the Wealth Shortlist »

Teera Chanpongsang took over management of this fund in January 2014. In our view, the manager adheres to a sensible and pragmatic investment approach, with a focus on high-quality companies. He is also able to draw on Fidelity's extensive analyst resource based in the Asian region. While we view him as an experienced fund manager, we currently feel there are other managers in this higher-risk sector with stronger track records over a longer period, and in which we have higher conviction.

Our view on the sector

Asia is home to some of the most dynamic economies in the world and has the potential to grow strongly over the long term. Funds in this sector invest in more mature economies like Korea, Taiwan, Hong Kong and Singapore together with emerging economies such as the Philippines and Indonesia. Some also invest in other developed economies such as Australia. The region is home to some of the biggest economies in the world, like China and India, and a growing middle class means they're less reliant on exporting to the West. Domestic consumption and the growing use of technology could help drive the next phase of their growth. We think Asia is home to plenty of good investment opportunities but it's a higher-risk area to invest so a long-term approach is needed.

Performance Analysis

Teera Chanpongsang joined Fidelity in 1994. He began managing a country-specific fund in 1998, later followed by a sector-specific fund. The chart to the right begins in 2008 when he took over the Fidelity Funds Emerging Asia Fund. Compared to a fair benchmark, performance was initially strong and the fund performed well when markets recovered in 2009 following the financial crisis. Subsequent performance was more muted. Since assuming responsibility for the South East Asia Fund it has outperformed its benchmark, although it remains early days.

Investment Philosophy

The manager focuses mainly on underlying company prospects rather than wider economic factors, seeking to invest in companies he believes can deliver growth above that of the wider market.

Process and Portfolio Construction

Teera Chanpongsang adopts a research-driven, stock-picking investment approach and is assisted by Fidelity's large pool of regional analysts. When selecting stocks the manager looks for high-quality companies with significant barriers to entry, providing a degree of protection for the business from competition.

Given the manager's accountancy background, he will tend to focus on company accounts and aims to invest when he feels the market is underestimating a company's true worth. Potential holdings include companies where the manager believes improvements are occurring but are yet to be reflected in the share price or situations where future growth potential is misunderstood. Meeting company management is an important part of the process, involving an assessment of management track record and structure.

question mark Manager Track Record Based on HL Quantitative Research

  • Fidelity Funds - Emerging Asia...
  • Fidelity Asia A Acc
  • FTSE AW Asia Pacific ex Japan TR...

Fund Track Record

12/08/15 to 12/08/16 12/08/16 to 12/08/17 12/08/17 to 12/08/18 12/08/18 to 12/08/19 12/08/19 to 12/08/20
Annual return 27.70% 23.72% 10.30% 2.61% 12.56%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Fidelity was founded in 1969 and established a presence in the UK in 1979. It provides asset management services to investors all over the world, offering investors a solid combination of local expertise and international strength. Fidelity is privately owned, and its independence allows it to continue focusing on the long-term interests of investors. In the UK, Fidelity manages a range of funds catering to the needs of all types of investors, whether primarily interested in equities or fixed interest.

Information about the fund

Fund manager biography

manager photo
Manager Name: Teera Chanpongsang
Manager start date: 1 January 2014
Manager located in: tbc

Teera Chanpongsang joined Fidelity Worldwide Investment, Hong Kong, in 1994 as a research analyst and has covered Thailand, regional banks, and regional telecommunication stocks. In 1998, he was promoted to country Portfolio Manager of FF Thailand Fund, which he managed successfully through to September 2004. Teera managed the FF Global Telecommunications Fund from July 2001 to March 2003 and again from September 2004 to December 2007. In 2004 Teera moved to London as a member of the Global Equity Team. He relocated back to Hong Kong in July 2007, and took on management of a segregated Emerging Asia fund which covers the same investment universe as the FF Emerging Asia Fund. Prior to Fidelity, Teera worked for accountants Coopers & Lybrand and later went on to be General Manager for the Chi Cha Group Company in Thailand. Teera holds an MBA from the University of California at Berkeley, USA and a BAcc (Hons) in Accounting from Chulalongkorn University in Thailand. Teera Chanponsang was named in FE Trustnet's list of Alpha Managers in 2012. The 160 managers on the list, selected from 1100 eligible managers, are rated on their risk-adjusted alpha, distinguishing those who are best able to navigate all phases of the market cycle.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account