Fidelity closes £7m Asia absolute return fund

Performed poorly since launch

clock • 1 min read

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 ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Funds

Trustpilot