HEAD-TO-HEAD: Fidelity and FSSA

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Conclusion

Morningstar has awarded Fidelity Asia Fund three stars, describing it as having “an experienced portfolio manager who is backed by a vast analyst team”.

Morningstar notes that the strategy has delivered for investors over Chanpongsang’s tenure, delivering 10.04% annualised returns (in pound sterling), outpacing the MSCI Asia ex-Japan index’s 8.22% gain.

Morningstar noted that the strategy has struggled more recently, although it said that it believed the fund was poised to deliver over the cycle.

Morningstar has awarded FSSA Asia Growth Fund four stars, describing it as “a compelling offering given its experienced and capable lead manager, a well-resourced supporting cast and a best-in-class investment approach.”

Morningstar also noted that due to Jones’ focus on quality, the strategy has showed more downside resilience than a lot of its peers.

Morningstar awards both funds with an analyst rating of bronze.

FE Fundinfo, which bases its assessment on a fund’s three-year history of delivering alpha, minimising relative volatility and producing consistent returns, awards both funds three crowns.

Overall, Liang said that both funds are good options for investors seeking exposure to Asia ex-Japan equities, although FSSA Asia Growth Fund has the edge, in part due to its team-wide investment process, which is a differentiating factor, and the fact that it has generated a performance pattern that is true to its label.

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