Posted inHead To Head

HEAD-TO-HEAD: Fidelity vs First State

FSA compares the Fidelity India Focus Fund with the First State Indian Subcontinent Fund.
by Fund Selector Asia
India Equity Funds

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Pictured: Mark Laidlaw, senior analyst for manager research at Morningstar

Economic reforms, natural factors such as relatively benign monsoon seasons in the last couple years and favourable demographics have been some of the reasons for growing investor interest in India.

Over one- and three-year periods, India mutual funds have been among the best performers.

Neptune India fund manager Kunal Desai told FSA’s sister publication International Adviser that he foresaw a big recovery in Indian corporate earnings, especially for those companies that stand to benefit from a transition in India’s consumption patterns.

After a period of being driven by economic reforms and macro-economic factors, India’s next year “will be about Indian companies beginning to see super-normal profitability”, he said.

More than 100 India-focused mutual funds are available to Hong Kong and Singapore investors. FSA has in the past profiled some of them in its Head-to-Head. (See here, here and here.)

Against this backdrop, Mark Laidlaw, senior analyst of Asia manager research at Morningstar, provides a comparative analysis of the First State Indian Subcontinent Fund and the Fidelity India Focus Fund.

Fidelity India Focus Fund First State Indian Subcontinent Fund
Inception 23 August 2004 23 August 1999
Size $1.68bn $429m
Ongoing charge 1.97% 1.94%
Morningstar Rating *** *****
Morningstar Analyst Rating Silver Gold
Fund Manager Amit Goel (Mar 2016)

Sandeep Kothari (Sep 2013)

 Vinay Agarwal (Aug 2012)

Richard Jones (Mar 2014)
Coverage India India, Sri Lanka, Pakistan, Bangladesh

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