Investment Strategy
Fidelity China Fund leverages local first-hand research to seek out the best opportunities in both the developed market of Hong Kong and the developing market of mainland China.
Fidelity China Fund
Performance
Annual compound performance – as at 31-Jul-2010
| Fund | Morningstar Quartile* |
Benchmark | |
| 1 month | 2.97% | 2 | 1.19% |
| 3 month | 2.67% | 1 | 1.57% |
| 6 month | 3.88% | 1 | 3.68% |
| 1 year | 2.48% | 1 | -0.18% |
| 2 year | 6.63% | 1 | 2.99% |
| 3 year | 0.14% | 1 | -1.41% |
| 5 year | — | — | — |
| 7 year | — | — | — |
| 10 year | — | — | — |
| YTD | -3.02% | 1 | -3.74% |
| Since Inception | 13.97% | — | — |
Calendar year performance – as at 31-Jul-2010
Growth of $10,000 since inception – as at 30-Jun-2010
Fund risk measures – as at 31-Jul-2010
| Fund | Benchmark | |
| Annual Standard Deviation | 26.70 | 30.75 |
| Beta | 0.85 | — |
| R² | 0.96 | — |
Risk measures are based on 3-year net returns (series B). (All returns are calculated in Canadian currency.)
Volatility meter
The volatility meter uses methodology recommended by the Fund Risk Classification Task Force of the Investment Funds Institute of Canada. The Task Force prescribes risk assessment based on historical volatility risk as measured by the standard deviation of fund performance. The Task Force also acknowledges that other types of measurable and nonmeasurable risk may exist. The Task Force reminds investors that historical performance may not be indicative of future returns and a fund’s historical volatility may not be indicative of future volatility.
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Fund facts
NAVPU – Series B
$18.10 – as at 01-Sep-2010
Fund inception date
08-May-2006
Fund benchmark
MSCI China Index Capped 10%
Fund aggregate assets (all available series)
$114.7 million
as at 31-Jul-2010
Management expense ratio - Series B
2.38% – as at 31-Mar-2010
Quarterly Top Ten Holdings
| China Life Insurance | Insurance |
| China Construction Bank | Commercial Banks |
| Tencent Holdings | Internet Software & Services |
| Industrial & Commercial Bank of China | Commercial Banks |
| China National Offshore Oil Corp. (CNOOC) | Oil, Gas & Consumable Fuels |
| China Mobile | Wireless Telecom Services |
| Belle International Holdings | Specialty Retail |
| Ping An Insurance | Insurance |
| Li Ning | Textiles, Apparel & Luxury Goods |
| China Merchants Bank | Commercial Banks |
| Top 10 holdings aggregate | 48.4% |
| Total number of holdings | 115 |
Allocation