# Fidelity Asian Values boosted by IT and utilities selections, May Factsheet

- Link: https://www.directorstalkinterviews.com/fidelity-asian-values-boosted-by-it-and-utilities-selections-may-factsheet/4121162473
- Published: 2024-06-26T10:47:25+01:00
- Author: Amilia Stone

**[Fidelity Asian Values plc](https://www.directorstalkinterviews.com/company/fidelity-asian-values-plc/fas.l)**(
[LON:FAS](https://www.directorstalkinterviews.com/company/fidelity-asian-values-plc/fas.l))
has announced its monthly summary for May 2024.

**Portfolio Manager Commentary **

The Trust’s NAV rose 12.1% during the 12-month period ended 31 May 2024, underperforming
its reference index which rose by 17.8%. The Trust’s share price rose 6.3% over 
the same period.   

Stock selection was the key contributor to the Trust’s relative performance. Our
investment process leads us to take contrarian positions in undervalued businesses.
We have been finding a lot of such opportunities in China, where heighted perception
of risks has led to a sharp decline in stock prices. But despite attractive valuations
China continues to underperform and drag down the Trust’s relative returns versus
the index. On the other hand, selections within Indonesia and India also held back
relative returns. From a sector perspective, selections within information technology
and utilities added value.  

 Given this approach, stock selection was the key contributor to the Trust’s relative
performance. Of late, investors seem to be rotating out of growth stocks and into
value names in the Asian small cap space, which also aided performance. This trend
should continue as small cap value stocks remain at a significant discount to small
cap growth stocks in Asia.   

Overall, the Trust was overweight consumer discretionary, financials, consumer staples
and energy among others. At a country level, it was overweight China, Indonesia,
and Australia among others. 

[Fidelity-Asian-Values-Factsheet-May-2024](https://www.directorstalkinterviews.com/wp-content/uploads/2024/06/Fidelity-Asian-Values-Factsheet-May-2024.pdf)
[Download](https://www.directorstalkinterviews.com/wp-content/uploads/2024/06/Fidelity-Asian-Values-Factsheet-May-2024.pdf)

**Fidelity Asian Values Plc** (LON:FAS) provides shareholders with a differentiated
equity exposure to Asian Markets. Asia is the world’s fastest-growing economic region
and the trust looks to capitalise on this by finding good businesses, run by good
people and buying them at a good price.

Share on: