Fidelity goes into Asia with high conviction

Fidelity is set to launch its Asian Aggressive Fund next week. As Fund Strategy reported last month (January 7) the fund will be managed by David Urquhart, who joined Fidelity in 1996.

Urquhart previously managed the Fidelity Funds (FF) Australia, FF Singapore and FF Korea funds and still heads the Fidelity Institutional Asia Pacific ex-Japan Opportunities Fund, which has a similar remit to Asian Aggressive.

The new fund will be a high-conviction portfolio consisting of between 55 and 85 holdings. Urquhart can invest in countries across the region, including companies in Australia, New Zealand and Thailand, but will not have exposure to the Japanese market.

“David is very much about bottom-up stockpicking using conviction and valuation to establish fund weightings,” says Peter Hicks, head of IFA channel at Fidelity. “If he finds a stock where he has very high conviction he can invest as much as 6% of the fund in it.”