Fidelity launches Asian Dividend fund for Kwan

Fidelity Worldwide Investment has expanded its regional equity income fund range with the launch of an onshore Asian income fund for manager Polly Kwan.

The Fidelity Asian Dividend fund invests in 60-80 stocks across the MSCI Asia Pacific ex Japan universe, with a focus on higher-yielding companies which will give the fund an expected yield of around 3.4% annually. Kwan (pictured), who has run the group’s Luxembourg-domiciled Asia Pacific Dividend fund for the past four years, will only select companies for the portfolio which meet a number of criteria, namely they have free cashflow generation, a scalable business, and a strong management team. Unlike the existing offshore fund, which targets both income and growth, the Asian Dividen...