Fidelity's Ma takes control of $400m Greater China fund

Fidelity Worldwide Investment has named Raymond Ma (pictured) as lead manager on the group's offshore $391m Greater China fund.

The Luxembourg-domiciled SICAV was formerly managed by Joseph Tse, who left the group last month after a 22-year tenure. The fund has a strong emphasis on large and mid-cap Chinese stocks listed in Hong Kong, China and Taiwan. It has delivered annualised returns of 6.6% over the past three years, beating the Morningstar GIF Equity Greater China peer group, which returned 5.7% over the period. Ma joined Fidelity in 2006, working as an analyst covering Chinese telecoms, financials and consumer stocks. The group launched the offshore China Consumer fund for Ma last February, adding...