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Fidelity Funds - Asian High Yield Fund

Asia USD high yield diversified bonds. Active diversified portfolio.

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About the Fund

Data as of

Fidelity International Ltd (FIL) is the international business arm of Fidelity Investments, a privately owned US-origin asset manager founded in 1946 and is one of the largest globally with over US$16tn of AUM across a wide range of services and products. FIL on its own manages over US$1tn of assets with long-only mutual funds being the core business.

The Fidelity Asian High Yield Fund is an actively managed bond strategy that aims to achieve capital growth over time and provide a high level of income, by investing >70% in non-investment grade bonds in the Asia Pacific region with no credit rating constraints. While the fund also has no currency constraints, it primarily invests in USD issues. The fund can also invest max 30% in hybrids and CoCo bonds, as well as max 10% in distressed securities. The investment process emphasises on bottom up bond selection, due diligence and ensuring adequate liquidity and diversification in the portfolio construction. The fund has a portfolio of >230 holdings.

Performance

Price Performance – Maximum Period

The FairHorizon Context

Investment-Time-Horizon in years

0 - 22 - 44 - 7 7 - 1010 - 1515+
Expected long-term return
2 - 4% p.a.
Expected volatility
3 - 5% p.a.

Building Block Returns

Fidelity Funds - Asian High Yield Fund

Ann. return (3-year):
7.75%
Ann. return (5-year):
-3.97%
Ann. return (10-year):
1.13%
Ann. Standard Deviation (5-year):
16.67%

This fund represents an active approach for exposure to the Asia Pacific high yield bond market segment.

Benchmark Returns

iShares USD Asia High Yield Bond Index ETF

Ann. return (3-year):
9.07%
Ann. return (5-year):
-1.63%
Ann. return (10-year):
1.98%
Ann. Standard Deviation (5-year):
14.89%
Link to the Funds FairSheet

FairHorizon Benchmark Returns

Dimensional Funds PLC - World Allocation 60/40 Fund

Ann. return (3-year):
12.53%
Ann. return (5-year):
6.41%
Ann. return (10-year):
—
Ann. Standard Deviation (5-year):
9.71%
Link to the Funds FairSheet

The Dimensional World Allocation 60/40 Fund is our FAIRHORIZON Yellow reference benchmark solution that has 60% global developed equities and 40% global investment grade short-to-medium maturity bonds for global high risk bonds-like or multi-asset returns and volatility.

SHARING OUR PASSION FOR INVESTMENTS FAIRSHEET™  Fidelity Funds - Asian High Yield Fund  Page 1/2

Why we prefer this fund

Relevance of strategy

This fund represents an active approach for exposure to the Asia Pacific high yield bond market segment.

Historical maximum drawdown & recovery time

Max drawdown (since inception)
-53.53%
Recovery Period
— (still in drawdown)

Diversification

Credit Rating

  • A0.79%
  • Baa2.04%
  • Ba34.21%
  • B12.53%
  • Caa11.85%
  • C0.04%
  • Others38.54%

Sectors

  • Corporate73.09%
  • Government-Related23.54%
  • Others3.37%

Geography

  • Cayman Islands13.93%
  • British Virgin Islands12.20%
  • India11.77%
  • United Kingdom11.14%
  • Sri Lanka7.36%
  • Pakistan6.31%
  • Singapore5.14%
  • Philippines4.12%
  • Thailand4.10%
  • Mongolia3.36%
  • Mauritius2.88%
  • Others17.68%