Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

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LU0605512275

Fidelity Asian Bond Fund(LU0605512275)

Fixed income
Investment grade
Asia
USD Cash
Accumulating

Invest with

USD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Fund aims to achieve income and capital appreciation by investing primarily in investment grade fixed income securities of issuers that have their principal business activities in the Asian region.

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Offers direct exposure to Asian Investment Grade bonds with attractive distribution rates and some capital appreciation potential. Compared to many peers in the Asian credit space, which usually would allocate 20-30% to High Yield bonds, this fund has a soft limit of 10% allocation and therefore offers relatively pure exposure to Investment Grade bonds.

People

Multi portfolio manager setup intended to reduce key-man risk with lead manager, Belinda Liao, having worked on the strategy since 2016 and as co-manager since 2019. Supported by a dedicated credit research team which conducts fundamental research on the securities while also considering relative value and technical support.

Performance

The fund has outperformed peers since inception from both an absolute return and a risk adjusted return standpoint. The fund’s high downside capture has historically been compensated by its stronger than peers upside capture.

Process

Robust M.A.S.T.R (market, allocation, selection, transaction, risk) investment framework that covers both macro views and credit selection. The portfolio construction is designed to stay within modest tracking error as well as to keep a duration range of +/-1.5 years relative to the benchmark.

Cost

Retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.

How it fits in a portfolio

Investors looking for exposure to Asian Investment Grade Bonds with a focus on payouts and capital appreciation can consider this fund. The fund is concentrated in fixed income securities in Asia and investors should consider diversification across other geographies.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

55.45%

YTD

0.51%

1 month

1.03%

6 month

0.71%

1 year

4.74%

3 year

11.35%

5 year

-0.32%

10 year

20.49%

As of Apr 2026

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Yield

4.97%As of Mar 2026

Risk metrics

Max drawdown

-24.88%As of Apr 2026

Volatility

6.12%As of Apr 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	0.3%	1.2%	-2.0%	1.0%	-	-	-	-	-	-	-	-
2025	6.3%	0.5%	1.6%	-0.2%	0.1%	0.0%	1.1%	0.3%	1.1%	1.0%	0.4%	0.1%	0.1%
2024	3.2%	-0.2%	-0.5%	0.8%	-1.8%	1.4%	0.9%	1.6%	1.9%	1.4%	-1.9%	0.5%	-1.1%
2023	4.5%	4.3%	-2.3%	0.7%	0.9%	-1.4%	0.3%	0.1%	-1.8%	-1.8%	-1.4%	3.9%	3.3%
2022	-14.7%	-2.4%	-2.1%	-2.8%	-2.4%	-0.8%	-2.2%	-0.1%	0.2%	-5.0%	-7.9%	8.1%	2.6%
Load more		5 of 16

Top Exposures

Holdings

Regions

Sectors

2 Year Treasury Note Future June 26 (2026-06-30 Maturity)	13.21%
Ultra US Treasury Bond Future June 26 (2026-06-18 Maturity)	4.63%
US Treasury Bond Future June 26 (2026-06-18 Maturity)	2.94%
Indonesia (Republic of) 8.5% (2035-10-12 Maturity)	2.13%
Hanwha Life Insurance Co., Ltd. 6.3% (2055-06-24 Maturity)	1.72%
Export-Import Bank of Korea 4.375% (2036-01-13 Maturity)	1.66%
PETRONAS Capital Ltd. 5.34% (2035-04-03 Maturity)	1.59%
Indonesia (Republic of) 6.625% (2037-02-17 Maturity)	1.47%
Philippines (Republic Of) 3.95% (2040-01-20 Maturity)	1.36%
Philippines (Republic Of) 5.5% (2035-02-04 Maturity)	1.09%
Indonesia (Republic of) 1.85% (2031-03-12 Maturity)	0.97%
Indonesia (Republic of) 5.25% (2030-01-15 Maturity)	0.96%
Indonesia (Republic of) 5.6% (2035-01-15 Maturity)	0.96%
Network I2I Ltd. 3.975%	0.96%
Lenovo Group Ltd. 3.421% (2030-11-02 Maturity)	0.95%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

1.04%0.82% p.a.

Save 21%

Fund facts

ISIN

LU0605512275

Fund house

Fidelity

Fund size

US$592.9M

As of 19 May 2026

Fund inception date

18 Apr 2011

Fund class currency

USD

Oldest share inception date

18 Apr 2011

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

Opinions Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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