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Fidelity adds sterling class to emerging Asia fund

Fidelity is adding a sterling share class to its Luxemburg-based emerging Asia fund.

The group is also applying to the Investment Management Association to have the fund included in the IMA Asia Pacific ex Japan sector.

It hopes to be included in the IMA’s next transfer of offshore funds to into the mainstream sectors, which will take place in September.

The sterling class will join the fund’s existing dollar and euro classes on August 4 and will be available for Isa and Sipp investment.

The fund It carries an initial charge of 3.5 per cent and an annual management charge of 1.5 per cent. Initial commission is 3 per cent and ongoing commission is 0.5 per cent.

The fund’s manager, Teera Chanpongsang, says: “I see numerous long term investment opportunities around the region as economic growth prospects remain strong and corporate balance sheets are relatively less leveraged.”

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