| Asset Group | Asset Sub-Group | Investment Category |
| Equities | Asian equities | Core |
Why we recommend itThe fund is managed by Dhananjay Phadnis who joined Fidelity as an analyst in 2004, before becoming a portfolio manager in 2008. He has managed this fund since 2013. Flora Wang, who joined Fidelity from BlackRock in 2019, has been appointed as the assistant portfolio manager following the mandate change. Her main role is to help enhance engagement with portfolio holdings and prospective investments and she does not have any trading authority. Phadnis is also supported by Fidelity’s Asia Pacific ex-Japan team of nearly 50 analysts. This fund formally adopted a sustainability mandate on 26 April 2021. This change, which includes some exclusionary screens, is a natural progression for Phadnis, who already paid close attention to sustainability factors while executing the approach. Importantly, the approach remains centred on economic moats, management quality, and valuations. The portfolio comprises of 55 – 80 stocks and is made up of fundamentally sound businesses trading below their intrinsic values as well as out-of-favour stocks with turnaround catalysts. Sector and country allocations remain a residual of stock selection, though weightings must stay within 10 percentage points of the MSCI AC Asia ex Japan index. Performance under Phadnis’ tenure has been strong, and he consistently demonstrates an intimate knowledge of names both inside and outside of his portfolios and has a clear passion for investing. Opinion The fund benefits from an experienced manager who adopts a robust and rigorous investment process that has been applied to good effect over his tenure. Sustainability criteriaMorningstar Sustainable Attribute: This fund is considered a sustainable investment product based on its prospectus or other regulatory filings. As a General ESG Investment, the fund uses environmental, social and governance (ESG) criteria as a central part of the security-selection and portfolio-construction process. These strategies endeavour to promote sustainability and minimise negative impact, without focusing on a specific theme or area of action. | ||
| Information and data compiled to November 2025. | ||
Risk warnings
The information we provide in the ACE 40 investments list does not constitute a "personal recommendation". You should ensure that any investment decisions you make are suitable for your personal circumstances and that the ethical style of the investment reflects your personal beliefs.
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