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Fidelity launches Asian dividend fund for Kwan
by Elsa Buchanan on Aug 19, 2013 at 09:38
Fidelity Worldwide Investment has broadened its equity income range with the launch of the Asian Dividend fund to be managed by Polly Kwan.
The fund, which seeks to provide a combination of income and long-term capital growth through an unconstrained actively managed portfolio, will target a yield of approximately 10% above that of the MSCI Asia-Pacific ex-Japan index, equating to a yield of around 3.4%.
The annual management charge is 1.5% for the A share class and 0.75% for the W share class.
Ben Waterhouse, head of UK retail sales at Fidelity Worldwide Investment, said in a statement that the new fund was a ‘natural extension’ of Fidelity’s suite of products.
‘In the current environment of stifled economic growth, the Asia Pacific region still offers attractive growth potential for investors,' he said.
‘However recent market volatility has led investors to take a more cautious approach, resulting in significant demand for equity income products. An Asian dividend fund offers investors the best of both worlds.'
Polly Kwan, who has run the offshore Fidelity Funds Asia Pacific Dividend fund since 2010, said she aimed to benefit from the region’s ‘attractive selection of stable dividend paying multinational companies and stocks that have good dividend growth prospects’.
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