Fidelity will launch a high conviction Asia Pacific fund for Singapore-based Anthony Srom this month.
The Fidelity Asia Pacific Opportunities fund has been run as a pilot for the past two years and will be launched for retail investment on 24 September.
The Oeic can invest across emerging and developed markets.
“With an increasingly wealthier consumer base, large-scale infrastructure development and rising levels of intra-regional trade, the Asia Pacific region offers investors the opportunity for strong long-term growth,” Srom explains.
The fund has a concentrated portfolio of between 25 to 35 stocks and Srom says he “will not tolerate” a tail on his fund.
Srom also runs the Fidelity Asian Aggressive Sicav and has 17 years’ investment experience in Asia, six of those with Fidelity.
The new opportunities fund aims to outperform the MSCI Asia Pacific ex Japan. The fund’s turnover is roughly 45 per cent, meaning holdings are kept for about two years.
“I am not a manager to cut and run at the first sign of trouble,” Srom says.
The fund’s ongoing charge figure is estimated to be 1.08 per cent.