Fidelity Asian Values Share Discussion Threads

[loganair] 03/5/2023 19:22

Other Asian Trust:

Schroder Oriental - Indonesia 3.8% and no India...Taiwan 19.1% & Australia 18.7%.
Aberdeen Asia - India 6.8% and no Indonesia...Singapore 22.7% & Taiwan 19.5%.


I would like to see FAS have a few percent in Vietnam and 1/3rd less in China.

[getscenic] 03/5/2023 17:22

yes, it's up the value end of Asia

[loganair] 03/5/2023 16:55

I've been looking at this one as it seems to me better than the JP Morgan Asian (JAGI) equivalent.

Why do I think the Fidelity is better?

FAS India 20.9% JAGI 11.2%
FAS Indonesia 13.4% JAGI 5.7%
FAS Korea 9.1% JAGI 17.8%
FAS Taiwan 6.8% JAGI 16.5%

FAS has a higher percentage invested in India and Indonesia compared to JAGI while has lower percentage invested in S.Korea and Taiwan.

[davvero] 13/10/2020 09:34

what's happening with the dividend?

[shieldbug] 08/9/2020 10:10

The company started buying back shares around the time that the discount widened (14th May). Are they buying to manage the discount? Or is something else going on here? They have bought back in excess of £5k of shares now and discount settling at 8-10% range.

[cordwainer] 10/12/2019 23:48

my subscription shares got exercised today. more than i can say for myself.

[davvero] 19/11/2019 14:37

Well yes, a bounce seems to be very likely.... ss now it seems to have reached bottom - so it should only go up... I am not questioning that at all... But the bounce will be mainly to the benefit of the new buyers, while for long term holders like me - with no money for buying more - it will be just catching back lost ground...

[davvero] 19/11/2019 13:28

@Ken..."FAS poor share price could be because of imminent expiry of the sub shares.".... Not convinced at all by that.. the share price down trend started on 1st August... This Bajaj Manager went head over hill in his change from large to small companies, throwing caution to the wind, a mistake one associates with investor beginners who know very little about markets... and he was full aware of the situation of small companies - or he should have een - as he also runs a small fund company, which now mirrors FAS hxxps://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F00000NF9S..... so he knew very well what small companies in India (at least his choices of them) were not doing all that good

[kenmitch] 19/11/2019 12:23

FAS poor share price could be because of imminent expiry of the sub shares.

IF these finish in the money and assuming a lot of lapsed sub shares exercised by the trustee, that means dilution on the downside, but also a lot of extra cash on the upside.

More likely is that the subs will end up worthless, with lapsed subs not exercised.
Have a hunch that if that happens share could have useful short term bounce early next month.

btw......the subs were great fun earlier, as long as holders got out in time. I’m very sorry that warrants and sub shares have almost disappeared. They were a great way of getting big profits for modest and even small stakes.

[davvero] 19/11/2019 11:14

@steve... I don't know which is NT issue right now, but this Bajaj guy mistiming is out of order ... it has certainly opened fantastic opps for new buyers to the cost of the existing long term holders....

[steve3sandal] 19/11/2019 10:27

I'm reminded of something Nick Train once said about a tomato sauce bottle, "you can shake and shake and nothing comes out, then it does". A very dull quarter but mean reversion and patience will eventually be rewarded here. Off topic but NT is having the same issue right now.

[davvero] 19/11/2019 09:39

Yes, of course FAS looks like a great opportunity for buyers... the problem is for previous holders... since the 1st August this year the trend has been down...

@Cord... thnaks for the article... Nothing wrong with the manager's policy in buying out of favour stock and switching from large to small companies... But it looks to me he has rushed too fast in that direction... His timing was very much too early and too substantial... He should have proceeded with much more caution and in smaller doses... he is guilty of impatience. What's right to do does not necessarily means you got to do it there and then in one go....

[steve3sandal] 18/11/2019 22:52

Bought back in to FAS today for all the reasons in 49 above. My free subscription shares will likely expire worthless but I did have a cheeky trade over the past 3 years. Hopefully things will eventually settle down in the region and after all it is the area where most people live. Out of favour is usually a good place to start IMO.

[davvero] 12/11/2019 11:28

@CORD.... your link only takes me to advertised fidelity link

[cordwainer] 12/11/2019 08:25

www.theaic.co.uk/aic/news/citywire-news/top-performing-fidelity-asian-values-cements-bias-to-ignored-small-caps

[cordwainer] 09/11/2019 06:13

Maybe one of us needs to try and check underlying investments to check whether performance of the smallest companies are dependent on flows in/out of this particular fund, e.g. liquidity issues ?? The recent benchmark change may have spooked a few less adventurous investors too.

[davvero] 07/11/2019 13:13

@shield....what I find very mysterious I could not uncover any logical reason for the share staying as it is... yes, there is the problem of tariffs, but the tariffs are not aimed directly at FAS! surely... Tariffs do not affect the other trusts in the sector no way near FAS... How is that? I know you can't explain - so the question remains open -

[shieldbug] 07/11/2019 12:46

I cannot explain why Nav is not rising but I would point out that Nav was steadily rising until 1st August when Trump slapped 10% tariffs on $300 billion of Chinese imports and then Nav declined pretty much continuously until now.

[davvero] 07/11/2019 11:48

can anyone explain why the share price is not moving up?... A mistery to me, with china and india indices both moving up, yet Fas goes down....

[shieldbug] 07/11/2019 10:23

70.9m shares in issue and 11.1m subscription shares remaining. Some dilution.

In the annual report the manager says aggregate PE of portfolio at 8-9x. Graph shows PE at 9 at July 2019 but NAV has fallen quite a bit since then and AR published 15th October so I am guessing PE closer to 8 at the moment.

Possible trade deal on the horizon.

Started buying a few. Be glad to see the back of these subscription shares.

[cordwainer] 01/11/2019 23:35

so final subscription offer has ended up at quite small discount to NAV. I will probably be exercising it.

[cordwainer] 23/10/2019 13:21

this becoming problematic with NAV at 10-month low ?