Fidelity Asian Values manager steps back after 13 years

Fidelity Asian Values manager John Lo has stepped back from running the trust after a 13-year spell in charge, to be replaced by Nitin Bajaj.

The change reflects the board’s desire to move to a small-cap focused strategy which “better suits” the £222m fund’s closed-ended structure, Fidelity said. Bajaj has been manager of the offshore Fidelity Funds Asian Smaller Companies fund since September 2013, having joined Fidelity in 2003. 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 researc...