Fidelity has appointed former BlackRock fund manager Jing Ning as manager of its US$3.5 billion Fidelity China Focus fund.
Ning replaces Martha Wang who will be leaving Fidelity on 31 October 2013 to take a career break.
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The fund invests predominantly in larger companies, focusing on growth of capital, and has around a third invested in the financial sector.
Wang has been managing this Luxembourg-domiciled fund since May 2006. She will be working with Ning to transition the running of the fund until her departure.
Ning has joined Fidelity from BlackRock where she managed the US$725 million offshore BGF China fund.
Prior to BlackRock, Ning has worked for AIG Investments from 1999 to 2007 where she worked as head of Chinese equities in Shanghai from 2004, managing two China A-share funds.
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By GlobalDataBlackRock said Ning’s role will be taken over by co-managers Andrew Swan, head of its Asian fundamental equity team, and Emily Dong, co-manager of the BGF Asian Growth Leaders fund.
John Ford, Fidelity’s Asia Pacific CIO, said: "Jing’s stock picking style is closely aligned with Fidelity’s own research-intensive, bottom up approach and she will be a welcome addition to our equity capabilities in the region."
As at 31 August 2013, Fidelity’s China Focus Fund, which was launched on February 2003, had US$3.41 billion under management and will focus on investing in Chinese securities listed in China and Hong Kong.
