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.

You should not rely solely on the information contained on this webpage to make investment decisions. You should read carefully and understand the relevant fund's offering documents before making any investment decision.

LU1371569465

Fidelity Asian Bond Fund (Dist.)(LU1371569465)

Fixed income
Investment grade
Asia
HKD Cash
Distributing

Invest with

HKD Cash

Payout type

Distributing

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 distributing fund, which includes dividends paid out.

Total returns

Cumulative

Annualised

All Time

20.63%

YTD

0.25%

1 month

-1.70%

6 month

0.86%

1 year

4.65%

3 year

11.06%

5 year

-1.73%

10 year

20.63%

As of Mar 2026

Distributions

5.46%

Frequency

Monthly

01 Apr 2026

Yield

4.97%As of Feb 2026

Risk metrics

Max drawdown

-23.96%As of Mar 2026

Volatility

6.93%As of Mar 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	0.6%	1.4%	-1.7%	-	-	-	-	-	-	-	-	-
2025	6.5%	0.8%	1.4%	-0.2%	-0.2%	1.1%	1.2%	0.3%	0.4%	0.8%	0.3%	0.3%	0.0%
2024	2.6%	-0.1%	-0.4%	0.8%	-1.9%	1.4%	0.8%	1.7%	1.7%	1.0%	-1.8%	0.6%	-1.2%
2023	4.6%	4.7%	-2.2%	0.8%	0.9%	-1.6%	0.3%	-0.4%	-1.2%	-2.0%	-1.5%	3.7%	3.3%
2022	-14.6%	-2.4%	-1.8%	-2.5%	-2.3%	-0.8%	-2.2%	-0.1%	0.2%	-5.1%	-7.9%	7.5%	2.6%
Load more		5 of 11

Top Exposures

Holdings

Regions

Sectors

2 Year Treasury Note Future June 26 (2026-06-30 Maturity)	14.19%
Ultra US Treasury Bond Future June 26 (2026-06-18 Maturity)	4.72%
US Treasury Bond Future June 26 (2026-06-18 Maturity)	3.28%
Indonesia (Republic of) 8.5% (2035-10-12 Maturity)	2.12%
Hanwha Life Insurance Co., Ltd. 6.3% (2055-06-24 Maturity)	1.70%
Export-Import Bank of Korea 4.375% (2036-01-13 Maturity)	1.64%
PETRONAS Capital Ltd. 5.34% (2035-04-03 Maturity)	1.56%
Indonesia (Republic of) 6.625% (2037-02-17 Maturity)	1.47%
Philippines (Republic Of) 3.95% (2040-01-20 Maturity)	1.37%
Sinochem Offshore Capital Co Ltd. 2.375% (2031-09-23 Maturity)	1.10%
Philippines (Republic Of) 5.5% (2035-02-04 Maturity)	1.09%
CNAC (HK) Finbridge Co Ltd. 3% (2030-09-22 Maturity)	1.02%
Indonesia (Republic of) 5.6% (2035-01-15 Maturity)	0.96%
Indonesia (Republic of) 5.25% (2030-01-15 Maturity)	0.94%
Lenovo Group Ltd. 3.421% (2030-11-02 Maturity)	0.92%

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

LU1371569465

Fund house

Fidelity

Fund size

HK$5.1B

As of 21 Apr 2026

Fund inception date

03 Mar 2016

Fund class currency

HKD

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.

Third party content ©2025 Morningstar. All Rights Reserved. The information contained here relating to a particular collective investment scheme: (1) is proprietary to Morningstar Research Pte. Limited and/or its content providers (“Information Provider(s)“) unless otherwise specified; and (2) may not be copied or distributed. Neither the Information Provider nor Endowus guarantee or endorse the accuracy, reliability, completeness or timeliness of the information, or are responsible for any damages or losses arising from any use of this information. Further, for technical reasons, certain information provided by Information Provider may be different from that supplied by the respective fund houses.

No invitation or solicitation Nothing contained on this webpage should be construed as a solicitation, recommendation or an offer by Endowus or any of its affiliates to buy or sale any security, commodity, investment or to engage in any other transaction in any jurisdiction in which such solicitation, recommendation or offer to buy or sale would be unlawful under the securities laws in such jurisdiction. No information included on this webpage is to be construed as investment advice or as a recommendation or a representation about the suitability or appropriateness of any advisory product or service; or an offer to buy or sell, or the solicitation of an offer to buy or sell, any security, financial product, or instrument; or to participate in any particular trading strategy. Investors should seek independent financial and tax advice before making any investment decision.

Product Risk Rating Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

The contents of this webpage have not been reviewed by the Securities and Futures Commission or any regulatory authority in Hong Kong.

Disclaimer:

General This website has been prepared by Endowus HK Limited ("Endowus"), which is licensed (CE No. BQR225) by the Securities and Futures Commission (the "SFC") in Hong Kong pursuant to the Securities and Futures Ordinance (Cap. 571) to carry on business in Type 1 (Dealing in Securities), Type 4 (Advising on Securities) and Type 9 (Asset Management) regulated activities. You can verify this information on the SFC's website here.

Jurisdictional Disclaimers By accessing this website, you acknowledge that you are a resident of Hong Kong. This website is not intended for U.S. Persons and should not be accessed by persons located or resident any other jurisdiction where (by reason of that person's nationality, domicile, residence or otherwise) the publication or availability of this website is prohibited or contrary to local laws or regulations or would subject Endowus to any registration or licensing requirements in such jurisdictions. It is your responsibility to be aware of, to obtain all relevant regulatory approvals, licences, verifications and/or registrations under, and to observe all applicable laws and regulations of any relevant jurisdiction in connection with your access to this website.

The content contained in this website has not been reviewed by the SFC or any regulatory authority in Hong Kong and are subject to the Privacy Policy and the full disclaimer found here.