HEAD-TO-HEAD: Fidelity versus First State

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MANAGER REVIEW

Dhananjay Phadnis took over the helm of the Fidelity Asia Focus Fund in March 2015, and has established himself as a well-respected manage, according to Poole.

“He understands his portfolio and has a clearly focused strategy, which is reflected in the clarity and detail with which he speaks about individual stocks,” said Poole.

Phadnis joined Fidelity in 2004 as an investment analyst in India, before moving to Hong Kong in 2006. As an analyst, he covered the Asian telecommunications, consumer discretionary, industrials and materials sectors. He was promoted to director of research in 2009, taking responsibility for the firm’s team of research analysts based in various offices in the Asia ex-Japan region.

“Phadnis is supported by a top-quality team at Fidelity,” said Poole.

The First State Asian Equity Plus Fund is managed by two individuals with distinguished pedigrees.

Martin Lau has been considered a “star” fund manager in Asia for several years, and has been running Asia-Pacific and Greater China portfolios for 22 years.

He is managing partner of First State Stewart Asia, part of First State Investments, and is based in Hong Kong. He is also the lead manager of a number of First State products, including the Asian Bridge, Asia Pacific All Cap, New Era PRC, China Growth, Greater China Growth and Hong Kong Growth funds.

“Lau has a clear investment philosophy which he implements in a disciplined manner,” said Poole.

He is supported by Richard Jones, who became a co-manager of the Asian Equity Plus Fund in 2013.

Jones is a director of First State Stewart Asia, and has 29 years of investment experience in the region, focused on both company research and portfolio management. He joined the First State Stewart Asia team in January 2010 and is based in Hong Kong.

In addition, Jones is the lead manager of the First State’s Asia Opportunities, Asian Growth Fund and Singapore and Malaysia funds. He is also responsible for managing a number of Asia Pacific Leaders portfolios on behalf of key client segregated accounts.

“Jones is highly experienced and respected Asia equities fund manager,” said Poole.

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