HEAD-TO-HEAD: Fidelity versus First State
By Francis Nikolai Acosta, 30 Nov 18
FSA compares two Greater China equity funds: the Fidelity Greater China Fund and the First State Greater China Fund.
Germaine Share, Morningstar
Greater China funds have seen net outflows this year, according to Germaine Share, Hong Kong-based associate director for manager research at Morningstar.
“There was some interest earlier this year because Chinese equities had a great year last year. But then the trade war concerns started up again, and it’s been pretty much a down market this year.”
The MSCI Golden Dragon Index, which measures the performance the Greater China market, is down 11.01% this year versus the positive 44.19% performance in 2017, according to data from FE Analytics.
However, sentiment could be turning. Asia’s fund selectors have shown increased interest in buying Chinese equity funds in the next 12 months, according to forward-looking data collected by FSA.
Against this backdrop, FSA asked Share to compare two Greater China equity funds: the Fidelity Greater China Fund and the First State Greater China Growth Fund.
|Size (fund level)|
|Size (Strategy level)|
|Three-year cumulative return*|
|Three-year annualised return*|
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|Morningstar analyst rating|
|Morningstar star rating|
|FE Crown fund rating|
|OCF (retail share class)|