The Fidelity Advantage Portfolio Fund - INVESCO Asian Equity Fund (Ordinary Class) (ISIN: HK0000598968) is an equity fund within the Fidelity Occupational Retirement Schemes Ordinance (ORSO) portfolio. It provides exposure to the dynamic growth markets of Asia (excluding Japan) by investing in the underlying Invesco Asian Equity Fund.

Latest Official Fund Data

Metric	Current official value
Official fund / class	Fidelity Advantage Portfolio Fund - Invesco Asian Equity Fund - Ordinary Class
ISIN	HK0000598968
Fund vehicle	ORSO share class
Fund range	Fidelity Advantage Portfolio Fund
Unit NAV (USD)	49.6400
NAV date	2026-09-30
Daily NAV change	-0.76%
ORSO risk class	6
Risk observation date	Not supplied in current directory
Performance date	2026-08-31
YTD return	Not reported in this directory
1-year performance	+33.92%
3-year performance	Not reported in this directory
5-year performance	+56.21%

Source: Fidelity Hong Kong, retrieved 2026-10-05 (Hong Kong time). Exact ISIN and fund vehicle are shown above; currencies are not converted. NAV and performance observation dates are separate. Returns are reproduced from the applicable directory; missing fields are not carried forward from older snapshots. Risk class is an ordinal classification, not annualised volatility. Older NAV charts and model estimates below were not recalculated by this directory refresh.

Investment Objective

The fund aims to achieve long-term capital growth by investing primarily in equity or equity-related securities of companies in Asian countries (excluding Japan). It focuses on identifying companies with strong fundamental growth prospects, high barriers to entry, and competent management teams across the region.

For ORSO scheme members, this fund serves as a high-growth component, offering diversification into emerging and developed Asian markets outside of the local Hong Kong context.

Risk Profile

• Fund Name: Fidelity Advantage Portfolio Fund - INVESCO Asian Equity Fund (Ordinary Class)
• ISIN: HK0000598968
• Asset class: Equity
• Reference currency: USD
• Risk stance: High (Risk Class 6), reflecting the inherent volatility of Asian equity markets.

Investors should be mindful of regional economic cycles, geopolitical developments, and currency fluctuations across various Asian jurisdictions.

Historical Model & Performance

Chart generated by scripts/fetch_orso_invesco_asian_equity_fund.py. Data is calibrated based on official performance milestones and latest NAV snapshots.

Historical Model Snapshot

	Metric	Value
Data range	2021-01-01 to 2026-05-15
Latest NAV	47.5875 USD
Total return (period)	+29.59%
Expected annual return	+8.34%
Annualised risk	25.88%
Sharpe ratio	0.15

Modern Portfolio Theory Read-Through

Based on the generated NAV history and the dashboard risk model:

• Expected Annual Return: ~ 8.34%
• Annualised Risk: ~ 25.88%
• Sharpe Ratio: 0.15, using a 4.5% risk-free-rate assumption.
• Portfolio role: Regional growth diversifier for Asian-focused ORSO portfolios.

On the ORSO Modern Portfolio Theory chart, the fund is positioned in the high-risk, high-return quadrant. Its exceptional recovery in 2025 (+32.33%) highlights the potential for significant capital appreciation during Asian market rebounds, while its risk profile underscores the importance of a long-term investment horizon for this asset class.

Sources

• Fidelity Hong Kong - Fidelity Advantage Portfolio Fund - Invesco Asian Equity Fund
• Invesco Asian Equity Fund Factsheet
• ISIN: HK0000598968