Money Makers

Fidelity Asian Values (ticker: FAS) was launched in 1996, not long before the Asian Financial Crisis, so its first few years proved difficult but over time it has built up a solid performance record. Nitin Bajaj took over as lead manager in April 2015 when the directors of FAS decided to adopt more of a small-cap value approach to differentiate the trust from its peers. A fulcrum fee was introduced in 2018 with a base charge of 0.7% of net assets and a variable element of -0.2% to +0.2% that depends on the trust's performance. FAS often used a high level of gearing in the 1990s and 2000s but s...