Evidence and analysis
- Share-class currency
- HKD
- ISIN
- LU0737861699
- Hedging status
- Not inferred from currency; consult the exact share-class factsheet.
The fund's base currency, shown in the prospectus description below, can differ from this share class's dealing currency. All benchmark comparisons above use the stated share-class currency.
Benchmark: MSCI China Capped 10% Index (Net)
| Period | Fund | Index | Gap (pp) |
|---|---|---|---|
| 1 year | -14.9% | -14.7% | -0.2 |
| 1-year: Underperforming | |||
| 3 years | 16.2% | 33.5% | -17.3 |
| 3-year: Underperforming | |||
Gap = fund minus index in percentage points. Returns are cumulative, with dividends reinvested, in the share class currency. Includes ongoing charges; excludes entry/exit fees. Based on Fidelity's rounded comparison table. A negative gap indicates underperformance for that period.
The Fidelity Funds - China Focus Fund A-ACC-HKD page has been refreshed from Fidelity Funds’ April 2026 Hong Kong Extract Prospectus. The PDF fund description is for China Focus Fund.
Investment Objective
The fund aims to achieve capital growth over time.
Investment Policy
The fund invests 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. China is considered to be an emerging market. The fund may also invest in money market instruments on an ancillary basis. The fund may invest up to 60% of its assets (directly and/or i ndirectly) in China A and B Shares (in aggregate).
Investment Process
In actively managing the fund, the Investment Manager considers growth and valuation metrics, company financials, return on capital, cash flows and other measures, as well as company management, industry, economic conditions, and other factors. The Investment Manager takes into account Sustainability Risks in its investment process. For more information, see Sustainable Investing and ESG Integration.
Derivatives and Techniques
The fund may use derivatives for hedging and for efficient portfolio management. In addition to core derivatives (see How the Funds Use Instruments and Techniques), the fund intends to use TRS. TRS (including CFD) usage Expected 0%; maximum 5%. Securities lending Expected 15%; maximum 30%. Repos/reverse repos Expected 0%; maximum 30%.
Benchmark
MSCI China Capped 10% Index. Used for: investment selection, risk monitoring, and performance comparison. The fund invests in securities of the benchmark, however, the management of the fund is discretionary, therefore the fund may invest in securities not included in the benchmark, and its performance over any period may or may not deviate significantly from that of the benchmark.
Base Currency
USD.
Main Risks
- China
- Concentration
- Counterparty and
- collateral
- Currency
- Derivatives
- Emerging markets
- Equities
- Hedging
- Investment fund
- Liquidity
- Market
- Operational
Risk Management Method
Commitment.
Top Holdings
Sector Allocation
| Sector | Weight |
|---|---|
| Consumer Cyclical | 27.7% |
| Communication Services | 15.0% |
| Financial Services | 11.5% |
| Real Estate | 9.1% |
| Industrials | 8.0% |
| Basic Materials | 7.0% |
| Consumer Defensive | 6.6% |
| Energy | 6.3% |
| Technology | 3.7% |
| Health Care | 3.3% |
Portfolio Manager
Nitin Bajaj, Alice Li
| Holding | Symbol | Weight |
|---|---|---|
| Tencent Holdings Ltd | 0700.HK | 8.25% |
| Alibaba Group Holding Ltd Ordinary Shares | 9988.HK | 4.48% |
| Prosus NV Ordinary Shares - Class N | PRX.AS | 4.45% |
| BOC Aviation Ltd Shs Unitary 144A/Reg S | 2588.HK | 3.42% |
| Industrial And Commercial Bank Of China Ltd Cla… | 01398 | 3.27% |
| China Construction Bank Corp Class H | 00939 | 3.23% |
| China Merchants Bank Co Ltd Class A | 600036.SS | 2.98% |
| China Mengniu Dairy Co Ltd | 2319.HK | 2.56% |
| Trip.com Group Ltd | 9961.HK | 2.33% |
| Poly Property Services Co Ltd Class H | 6049.HK | 2.24% |
Source
- Fidelity Funds, April 2026 Hong Kong Extract Prospectus:
data/fidelity/pr.ff.HK-en.HK.pdf
Latest Official Fund Data
| Metric | Current official value |
|---|---|
| NAV (HKD) | 18.3600 |
| NAV date | 2026-10-23 |
| Daily NAV change | 0.0700 (0.3827%) |
| 1-year performance | -14.9487% |
| 3-year performance | 16.2195% |
| Performance date | 2026-09-30 |
| Fund type | Equity Fund |
| ISIN | LU0737861699 |
Source: Fidelity Hong Kong mutual-fund directory, retrieved 2026-10-26. Observation dates are shown separately; performance figures are reproduced from the official directory in the share class currency. Historical risk and return analysis below has not been recalculated by this directory refresh.