Posted inHead To Head

HEAD-TO-HEAD: Fidelity versus FSSA

FSA compares two India equity products: the Fidelity India Focus Fund and the FSSA Indian Subcontinent Fund.
by Rupert Walker

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Conclusion

FE Fundinfo, which bases its assessment on a fund’s three-year history of delivering alpha, minimising relative volatility, and producing consistent returns, awards the Fidelity product three crowns, and rates the FSSA fund a notch lower with two crowns.

Morningstar has awarded the both products four stars based on historical returns, gives the FSSA fund a glowing forward-looking analyst rating of gold and only neutral to the Fidelity strategy.

“Fidelity’s portfolio manager Goel is a solid investor and we have a positive opinion on the investment team,” said Lo.

“That said, Goel is still finding his stride in adapting his investment approach to this single-country mandate,” he cautioned, “although there is potential for us to build conviction in the strategy”.

However, the FSSA fund continues to be Morningstar’s favourite Indian equity strategy.

“It benefits from a best-in-class portfolio manager, a solid investment team with one of the most appealing investment cultures in the region, and a time-tested investment approach,” said Lo.

“Agarwal is one of the best portfolio managers in the Indian equity and he has consistently demonstrated impressive insights on portfolio companies, especially on their management teams,” he said.

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