Fidelity Asian Values plc (LON:FAS) has announced its monthly summary for October 2023.
Portfolio Manager Commentary
The Trust’s NAV rose 13.7% during the 12-month period ended 31 October 2023, outperforming its reference index which rose by 13.1%. The Trust’s share price rose 13.7% over the same period. Stock selection was the key contributor to the Trust’s relative performance, particularly in China and India. Furthermore, underweight in Thailand also contributed to the relative performance. Meanwhile, an overweight in Indonesia held back relative returns. From a sector perspective, selections within energy
and utilities 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.