Fidelity launches onshore version of Emerging Asia fund

Fidelity has launched an onshore OEIC version of its $700m Emerging Asia fund, run by Teera Chanpongsang, after three years of outperformance from the offering.

The fund, initially launched in 2008 as a Luxembourg-domiciled SICAV, will sit alongside Fidelity’s existing range of onshore offerings. This includes the £2.7bn South East Asia fund, run by Allan Liu, and Anthony Bolton’s £675m China Special Situations investment trust. Emerging Asia invests in between 80 and 120 stocks, with a focus on less developed emerging markets. Taiwan and Korea are excluded, with the portfolio instead concentrating on Malaysia, Thailand, and the Philippines, as well as China and India. The fund has a customised benchmark, with 33% in China, 33% in India...