Fidelity Asian Values share price rises 17% annually (LON:FAS)

Asia investment trust, Fidelity Asian Values PLC (LON:FAS) monthly factsheet for May 2023.

Portfolio Manager Commentary

The Trust’s NAV rose 5.5% during the 12-month period ended 31 May 2023, outperforming its reference index which fell by 2.3%. The Trust’s share price rose 17.2% over the same period.

Stock selection was the key contributor to the Trust’s relative performance, particularly in China, Indonesia and India. Meanwhile, selections in Singapore and underweight in Taiwan held back the relative performance. Taiwan equities were supported by the strong performance of several stocks in the
technology sector. From a sector perspective, selections within health care, financials and energy added value. The Trust is managed with an absolute return focus, completely agnostic of the index, with a bias towards high quality and value stocks. Given this approach, stock selection was the key contributor to the
Trust’s relative performance. Of late, investors seem to be rotating out of growth stocks and into value names in the Asian small cap space, which also aided performance. This trend should continue as small cap value stocks remain at a significant discount to small cap growth stocks in Asia. The manager continues to believe that owning good businesses, run by competent managements at attractive prices is the most time-tested way to make money in the stock market.

Overall, the Trust was overweight consumer discretionary, financials, consumer staples and energy among others. At a country level, it was overweight China, Australia and Indonesia among others.

Fidelity Asian Values Plc (LON:FAS) is an Asia investment trust that provides shareholders with a differentiated equity exposure to Asian Markets.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Fidelity International

More articles like this

Fidelity Asian Values

Asian markets rise amid economic optimism and regional stability

Asian stock markets experienced an upswing, buoyed by Wall Street’s strong performance. Notable gains were seen in Shanghai, South Korea, and Singapore, reflecting positive investor sentiment. However, this optimism was tempered by concerns over China’s debt

Fidelity Asian Values

Asian stock markets Rally amid robust economic data

Asian stock markets experienced significant gains on Monday, while the US dollar reached a seven-week high against the yen, buoyed by surprisingly strong labour market data in the United States. This unexpected economic strength alleviated concerns

Fidelity Asian Values

Southeast Asian markets outperform

Since the end of June, Southeast Asian markets, including the Philippines, have outperformed the United States. This was driven by growing expectations that the US Federal Reserve would adjust its policy, which caused the dollar to

DirectorsTalk

Asian markets boosted by Nvidia surge and soft Japanese inflation

On Thursday, most Asian stocks saw gains, especially in the technology sector, following a strong overnight performance by Nvidia. Japanese markets, in particular, performed well due to lower-than-expected producer inflation data, which contradicted recent hawkish remarks

Fidelity Asian Values

Asian markets show gains as yen stabilises

On Tuesday, Asian markets experienced gains, driven by the rise in Japanese stocks, while the yen showed signs of stabilisation after a period of weakness against the US dollar. Japanese equities performed strongly, with a positive

Fidelity Asian Values

Asian stocks rebound as market worries ease

Asian markets largely extended their gains. This improvement in sentiment comes after last week’s turmoil, which was driven by fears of a potential US recession. Investors have since seen these concerns ease somewhat, especially ahead of

Fidelity Asian Values

Asian stock markets rally as recession fears ease

Asian stocks generally advanced on Monday, building on a recovery from the previous week. This uptick was driven by growing optimism that fears of a U.S. recession may have been overstated. The focus for investors now

Fidelity Asian Values

Asian stocks surge as Tokyo leads strong rebound

Tokyo stocks surged over 10 per cent on Tuesday, rebounding from a record selloff driven by concerns about the US economy and a stronger yen. The Nikkei 225 index soared 10.33 per cent, gaining 3,249.36 points

Fidelity Asian Values

Asian markets rally despite Chinese economic concerns

Most Asian stocks saw gains on Tuesday, taking cues from a strong finish on Wall Street, driven by growing expectations for a September interest rate cut. However, Chinese markets lagged due to concerns over a cooling