Fidelity Worldwide Investment has expanded its regional onshore equity income range by launching a new Asian income fund.
The Fidelity Asian Dividend fund, which will be managed by Polly Kwan, will invest in 60-80 stocks in the Asia Pacific regions excluding Japan.
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Kwan will select firms based on their ability of free cashflow generation and provide a dividend, which is stable or increase dividends in the future.
The new fund intends to generate a yield of around 10% above that of the index with an anticipated yield of about 3.4% per year.
Kwan said the case for Asian equity income is clearly a compelling one.
"With the fund, I aim to benefit from the region’s attractive selection of stable dividend-paying multinational companies and stocks that have good dividend growth prospects," Kwan said.
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By GlobalData"In constructing a portfolio with a combination of the two, I seek to deliver long-term total returns with less volatility than other strategies exposed to the Asian growth story."
Prior to the new fund, Kwan has managed the offshore Fidelity Funds Asia Pacific Dividend fund since 2010.
