LU0346390866
Fidelity China Focus Fund

  • Equities
  • China
  • USD Cash
  • Accumulating
Invest with
USD Cash
Payout type
Accumulating
Risk rating
6
About this fund
Description
The fund aims to achieve capital growth over time by investing at least 70% of its assets,in equities of companies listed in China and Hong Kong, as well as in equities of non-Chinese companies which do most of their business in China.
Key information
Annual report
Product Highlight Sheet
Prospectus
Factsheet
Our perspective
Why we think this fund is best-in-class
product
Product
The Fidelity China Focus Fund, with its value and quality tilts, provides exposure to 60-80 quality businesses run by competent management. These companies are attractive at reasonable valuations with a margin of safety. The Fund provides exposure to the China Equity market primarily via allocation to H-shares, A-shares and ADRs.
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people
People
The Fund is managed by Nitin Bajaj, who took over the management of the fund in September 2022. Nithin has 20 years of investment experience and also manages two other Asian strategies.Nitin is supported by co-Portfolio Manager, Alice Li and Fidelity’s deep bench of equity research analysts which includes 17 analysts dedicated to the Greater China region.
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performance
Performance
Outperformance relative to its benchmark over a 3 year, 5 year and since inception basis (as of end May 2024, net of fees, USD), benefitting from a rotation to value amidst the weak sentiment and investor risk aversion in recent years.Strong downside protection in downward trending markets, registering a lower down-capture ratio and maximum drawdown relative to peers.
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process
Process
Bottom-up driven approach that aims to generate alpha primarily through stock selection. Robust four stage investment process covering idea generation, stock research and selection, portfolio construction and risk management, as well as portfolio monitoring.
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cost
Cost
Access to the clean share class to achieve the lowest possible cost.
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selectionCriteria
How it fits in a portfolio
The Fund’s value style tilt differentiates it from peers within the space which tend to be growth focused, and can therefore act as a complement to such peers in building a holistic China Equity that is well diversified from a style perspective.
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Invest in this fund
Performance
Shows the total return of this accumulating fund, which includes dividends reinvested.
Total returns
All Time
157.00%
YTD
25.95%
1 month
5.80%
6 month
17.66%
1 year
39.90%
3 year
32.15%
5 year
28.32%
10 year
92.09%
As of Aug 2025
Distributions
This is an accumulating fund, so dividends are re-invested at the fund level.
Risk metrics
Max drawdown
-48.82%As of Aug 2025
Volatility
22.48%As of Aug 2025
Calendar returns
YearTotalJanFebMarAprMayJunJulAugSepOctNovDec
2025-1.2%5.8%3.1%-4.4%3.7%4.5%4.2%5.8%----
20249.2%-8.5%5.3%2.7%6.2%2.2%-5.0%-3.1%-0.5%20.8%-5.6%-3.6%1.0%
2023-5.7%11.3%-7.2%5.4%-2.4%-9.8%6.1%8.2%-9.1%-2.2%-5.6%2.6%-0.4%
2022-2.0%4.4%0.3%-4.9%-3.1%1.8%5.4%-7.8%0.7%-10.2%-14.2%28.1%3.2%
2021-3.3%5.0%5.2%-1.8%-0.8%0.2%-1.6%-7.8%3.2%-0.0%-1.8%-4.5%2.2%
Top Exposures
Tencent Holdings Ltd9.07%
Alibaba Group Holding Ltd Ordinary Shares7.83%
Prosus NV Ordinary Shares - Class N5.09%
Trip.com Group Ltd4.29%
China Construction Bank Corp Class H3.53%
BOC Aviation Ltd Shs Unitary 144A/Reg S3.23%
China Merchants Bank Co Ltd Class H2.97%
Industrial And Commercial Bank Of China Ltd Class H2.78%
China Oilfield Services Ltd Class H2.46%
NetEase Inc Ordinary Shares2.45%
Hong Kong Exchanges and Clearing Ltd2.15%
China Overseas Land & Investment Ltd2.13%
China Overseas Property Holdings Ltd2.11%
Poly Property Services Co Ltd Class H2.06%
China Mengniu Dairy Co Ltd2.03%
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
1.06% p.a.
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Fund facts
ISIN
LU0346390866
Fund house
Fidelity
Fund size
US$2.5B
As of 31 Aug 2025
Fund inception date
17 Mar 2008
Fund class currency
USD
Fund share class
Y ACC USD
Oldest share inception date
18 Aug 2003
Pricing frequency
Daily

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