Manager change on Fidelity India Focus Fund
Fidelity has replaced the manager of its India Focus Fund. Following a period of poor performance, during which the fund significantly underperformed a falling market, Arun Mehra has stepped down and will leave Fidelity.The new fund manager will be
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Teera Chanpongsang, who has more than twenty years experience of Asian stock markets with particular focus on banks and telecoms. He is a stock picker who is willing to invest differently from the benchmark if he has high conviction in certain stocks or sectors. Meeting company management is a key part of his process and he favours firms that are leaders in their fields.India is a potentially high growth market, but is certainly higher risk and will be volatile. It remains to be seen whether Teera Chanpongsang can improve performance of the India Focus Fund for his investors. In our view investors need to be patient because this is an investment that should be held for the long term.Stuart Goodwin, Analyst
