Fidelity’s Asia investment trust FAS impressive 12-month performance

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

Portfolio Manager Commentary

The Trust’s NAV rose 8.0% during the 12-month period ended 30 June 2023, outperforming its reference index which rose by 4.4%. The Trust’s share price rose 20.7% over the same period.

Stock selection was the key contributor to the Trust’s relative performance, particularly in China, Indonesia and India. Meanwhile, being 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 most overweight in the consumer discretionary, financials, consumer staples and energy sectors. At a country level, the key overweight country positions were China, Australia and Indonesia.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Fidelity International

More articles like this

Fidelity Asian Values

How high speed rail is transforming Asia’s economic potential

It was the inauguration of the Shinkansen “bullet train” in the 1960s that arguably kicked off the high-speed rail revolution, representing a triumphant economic achievement for Japan that helped it return to the international fold following the turbulence

Fidelity Asian Values

China stimulus helps Asian stocks trade higher

New stimulus from China helped Asian stocks trade higher on Thursday as concerns over economic growth in the world’s second-largest economy remain in focus. Hong Kong’s Hang Seng Index rose 0.2%, with the Shanghai Composite finishing 0.1% higher.

Fidelity Asian Values

Asian stocks rally after China’s policy initiatives

Asian stocks have extended last week’s rally, led by China shares, amid talk that all of Beijing’s small policy steps might actually add up to real stimulus at some stage. The next move is expected to be a

Fidelity Asian Values

Asian stocks up as China rally runs on hope

China stocks led Asian shares higher on Tuesday with investors welcoming Beijing’s efforts at supporting markets, while bonds rallied and the dollar dipped on possibly softening US data. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1%,

Fidelity Asian Values

Asian stocks rise as tech strength helps offset US rate fears

Most Asian stocks rose on Tuesday, buoyed by a recovery in technology stocks ahead of key earnings from Nvidia Corp (NASDAQ:NVDA), although concerns over rising U.S. interest rates and slowing Chinese growth held back bigger gains.  While Wall Street indexes ended

Fidelity Asian Values

How science competitions inspire innovation in Asia-Pacific

The Asia-Pacific region is seeing healthy growth of startups across sectors like fintech, automation, and AI-powered drug discovery, according to a 2022 report by KPMG. However, compared to the start-up scene in North America, there is still little access to

Fidelity Asian Values

Asian currencies and equities edge higher

Asian currencies and equities edged higher on Wednesday after investors priced in the effects of China’s consumer prices falling in July, which made it the first G20 economy to enter deflation territory since Japan in 2021. The Chinese yuan CNY=CFXS strengthened 0.2% as major state-owned

Fidelity Asian Values

Singapore leads Southeast Asia growth in imports

The value of trade in both imports and exports with Southeast Asia has grown significantly in the year ending June 2023, according to figures released by Stats NZ. Of the countries in Southeast Asia, imports from Singapore rose

Fidelity Asian Values

Asian stocks rise

Most Asian stocks rose on Thursday as appetite for risk-driven markets was boosted by the Federal Reserve raising interest rates as expected and downplaying the prospect of a U.S. recession this year. Technology stocks were among the best

Fidelity Asian Values

Asian stocks close on a positive note

Asian markets finished trading on a positive note, tracking Wall Street’s gains a day earlier. A positive surprise on inflation from U.K. also supported sentiment. China’s Shanghai Composite Index edged up 0.03 percent to finish trading at 3,198.84. The day’s

Fidelity Asian Values

Asian stocks rise ahead of US inflation data

Most Asian stocks rose on Wednesday amid speculation over peak U.S. interest rates ahead of key inflation data, while weak economic readings spurred a heavy dose of profit taking in Japanese markets. A positive overnight finish on Wall

Fidelity International

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

DirectorsTalk

Asian stocks rally on U.S. inflation miss

Most Asian stocks surged on Monday as a drop in U.S. inflation ramped up hopes for a less hawkish Federal Reserve, while data showing improving sentiment towards the Japanese economy put the Nikkei index back at 33-year highs.

Fidelity Asian Values

Asian stocks up on brighter China prospects

Asian stocks shook off earlier losses on Tuesday, helped by assurances that Beijing would support flagging growth in the world’s second-largest economy, which helped investors shift their focus away from risks around interest rates and Russia. The Chinese

Fidelity Asian Values

Asian emerging markets to benefit from shift beyond China

Asia’s emerging market equities have been hurt by recent fears over China’s recovery and geopolitical risks. But while the region’s markets have historically been correlated with Chinese assets, investors are missing a stealthy decoupling from the country’s giant

Fidelity Asian Values

Asian stocks rise

Asian stocks rose on Friday, with several reaching four-month highs, as two of the largest central banks of the region maintained dovish signals regarding their benchmark interest rates.  MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.9%

No more posts to show