Fidelity Asian Values boosted by IT and utilities selections, May Factsheet

Fidelity Asian Values plc (LON:FAS) has announced its monthly summary for May 2024.

Portfolio Manager Commentary 

The Trust’s NAV rose 12.1% during the 12-month period ended 31 May 2024, underperforming its reference index which rose by 17.8%. The Trust’s share price rose 6.3% over the same period.   

Stock selection was the key contributor to the Trust’s relative performance. Our investment process leads us to take contrarian positions in undervalued businesses. We have been finding a lot of such opportunities in China, where heighted perception of risks has led to a sharp decline in stock prices. But despite attractive valuations China continues to underperform and drag down the Trust’s relative returns versus the index. On the other hand, selections within Indonesia and India also held back relative returns. From a sector perspective, selections within information technology and utilities added value.  

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