The FSA Spy market buzz – 6 June 2025
Animal spirits run wild; Franklin Templeton is taking credit; EM banking revolution; Not all luxury is equal; Death of search and the AI machine; George Soros on wins and much more.
HEAD-TO-HEAD: Fidelity vs Haitong
FSA compares two Asian high yield bond funds with sharply contrasting strategies and profiles: the Fidelity Asian High Yield Fund and the Haitong Asian High Yield Bond Fund.
Fees
The Fidelity fund’s ongoing charge (OCF) is 1.4% which is slightly higher than the 1.38% median for Asian high yield funds, but is justified by its access to the firm’s global resources, Ng said.
Haitong’s 1.17% OCF is perhaps “surprisingly low”, said Ng, because fixed costs are proportionally higher for a smaller fund.
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