Fidelity brings China Consumer fund onshore

Fidelity is bringing its $115m offshore China Consumer fund onshore with the launch of a mirror fund early next year.

The fund, managed by Raymond Ma, taps into pro-consumption government policies and urbanisation, investing in companies listed in China as opposed to European or US stocks gaining indirect exposure to Chinese companies through selling into the market. The fund is scheduled to launch in February and will invest in 80-120 stocks, benchmarked against the MSCI China index. Ma said he will look to buy into the IPO market, which he added is expanding significantly with over 100 new consumer-related offerings made annually. "The expansion of the consumer sector is reflected in the size o...