Fidelity closes £7m Asia absolute return fund

Performed poorly since launch

Fidelity is liquidating its £6.8m Absolute Return Asian Equity fund due to its small size.

The large cap fund has performed poorly since its launch in December 2019. An initial investment of $1,000 would have been worth just $781.57 after fees by the end of August 2023, according to Fidelity's website. Managed by Nipun Sharma, the fund held long and short positions across Asia excluding Japan, using a bottom-up stock picking approach. Fidelity to close Global High Yield and Long Bond funds Its biggest holding is in the National Hydroelectric Power Corporation, an Indian public sector hydropower company. The fund's other largest holdings are Kweichow Moutai, a partial ...