Fidelity Asian Values Regulatory News (FAS)

London, UK, 31 October 2019

Edison issues review on Fidelity Asian Values (FAS)

Fidelity Asian Values (FAS) is managed by Nitin Bajaj, who aims to both grow and preserve shareholders' capital, seeking double-digit annual total returns over a three- to five-year timeframe. The manager seeks to mitigate large capital losses in the portfolio by avoiding companies with high valuation multiples, extended balance sheets, modest margins and low liquidity. He is mindful to keep sufficient resources available to take advantage of investment opportunities when they arise. The last chance for investors to exercise their FAS subscription shares is on 29 November 2019, with the exercise price representing a 1.8% discount to the current share price.

FAS is currently trading at a 0.1% discount to cum-income NAV, which compares to the 2.5% average premium over the last 12 months and the 2.2% to 7.8% range of average discounts over the last three, five and 10 years. While the trust's manager focuses on capital growth and preservation, in recent years there has been a regular progression in the annual dividend (see Exhibit 1). FAS currently offers a 2.2% dividend yield.

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For more information please contact Edison:

Mel Jenner, +44 (0)20 3077 5720

Sarah Godfrey, +44 (0)20 3681 2519

investmenttrusts@edisongroup.com

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