Fidelity Asian Values Outperforms Benchmark In Full Year

LONDON (Alliance News) - Fidelity Asian Values PLC Thursday said it outperformed its benchmark index in the year to end-July.

The trust reported a total return on net asset value of 4.0%, which was ahead of the MSCI All Countries Far East ex Japan Index, which saw a total return of 0.3%.

Despite recent levels of volatility and sell-offs, led by a fall in Chinese equity valuations between the beginning of April and the end of September, the trust said it continued to beat its comparative index, with its net asset value return exceeding the index by 2.5% over this same period.

"Returns were buoyed by rewarding stock selection in South Korea and India, as well as favourable positioning in China. At sector level, stock selection in the information technology and consumer discretionary sectors, and overweighting in the consumer staples and healthcare sectors contributed the most to the fund's relative returns," the trust said in a statement.

Shares in Fidelity Asian Values were down 0.9% at 230.00 pence Thursday afternoon.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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Fidelity Asian Values