Investment trust Fidelity Asian Values has appointed Nitin Bajaj as its new manager, replacing John Lo.
Lo, who has been serving at Fidelity since 1993, has stepped back from running the trust after a 13-year stint. However, Lo will continue to manage segregated institutional mandates at Fidelity Worldwide Investments.
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Both the managers will work together to enable an orderly transition.
At present, Bajaj serves as manager of the offshore Fidelity Funds Asian Smaller Companies Fund, a post he has been holding since September 2013.
Bajaj joined Fidelity’s London office in 2003 as a Research Analyst, and in 2007 was appointed as an assistant portfolio manager for the Fidelity Global Special Situations Fund in the UK.
In 2009, he moved to Fidelity’s Mumbai office to manage FIL’s domestic Indian equity funds.
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By GlobalDataIn the company’s results statement trust chairman Kate Bolsover said, "Nitin is a value investor and aims to generate alpha through stock selection within the Asia Pacific ex -Japan region in a manner which the board believes closely delivers the investment objective for its shareholders.
"He prefers investing in smaller companies as they tend to be less well researched, which leads to greater valuation anomalies."
Further, to incorporate Australia and New Zealand, the trust’s benchmark will see a change on 1 August to the MSCI AC Asia Pacific ex-Japan index.
