Fidelity rebrands £1.7bn Asia fund

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Fidelity is rebranding its South East Asia fund, run by Teera Chanpongsang.

From 23rd March the £1.67bn fund will be named the Fidelity Asia Fund. The name change reflects the broader investments of the fund, which has expanded beyond just south-east Asia since its 1984 launch.

In the current portfolio breakdown countries not in the Association of Southeast Asian Nations, such as China, Korea, Taiwan, Hong Kong and India, make up 84 per cent of the portfolio.

The investment objective and management of the fund will not change, the company says.

Chanpongsang, a portfolio manager at Fidelity International, says: “The Fidelity South East Fund was launched in 1984. Since then, the investment landscape across Asia ex-Japan has transformed, and China and India in particular have become key global economies.

“I want our investors to be confident that we are looking for investment ideas across a broader region, where structural change is leading to encouraging growth prospects.”

Last March the fund’s index was changed from the MSCI AC Far East ex-Japan index to the MSCI AC Asia ex-Japan, which includes Japan.