SEP 2013
|
Fund |
Morningstar Analyst Rating |
Previous Morningstar Analyst Rating |
Global Fund Report Analysis Date |
|
Allianz Rohstofffonds A EUR |
Under Review |
Neutral |
16/9/2013 |
|
Fidelity China Focus A-USD |
Under Review |
Silver |
30/9/2013 |
|
Fidelity Indonesia A-USD |
Bronze |
- |
18/9/2013 |
|
Fidelity Singapore A-USD |
Neutral |
- |
3/9/2013 |
Analyst Notes
Allianz Rohstofffonds A EUR
We have changed the Morningstar Analyst Rating for Allianz Rohstofffonds to Under Review. The fund was previously rated neutral. Manager Petra Kühl—who has been involved in the management of the fund since 2001—will leave Allianz Global Investors by October, 1st 2013. Analyst and current deputy manager David Finger will take over the role of the lead manager after Kühl’s departure. He will be supported by Kerstin Landau who will keep her role as a deputy manager. We will update the rating in due course once we have spoken with the new manager.
--Barbara Claus, Research Analyst
Fidelity China Focus A USD
We have placed the Morningstar Analyst Rating™ for the Fidelity China Focus fund Under Review following the news that Martha Wang will step down as portfolio manager. The fund was previously rated Silver. We will be meeting with the new portfolio manager Jing Ning in the coming weeks to update the Morningstar Analyst Rating.
--Arne Hilke, Research Analyst
Fidelity Indonesia A USD
We have initiated coverage of the Fidelity Indonesia fund with a Morningstar Analyst Rating™ of Bronze. Portfolio Manager Dhananjay Phadnis is a proven Indonesia investor, and has built a strong performance track record since taking charge of this fund in April 2008. He further benefits from the large and experienced Fidelity regional investment team. On that basis, we view the fund as a worthy option for investors seeking exposure to Indonesian equities.
--Arne Hilke, Research Analyst
Fidelity Singapore A USD
We have initiated coverage of the Fidelity Singapore fund with a Morningstar Analyst Rating™ of Neutral. Portfolio Manager Gillian Kwek is an experienced Singapore investor, having run this strategy since May 2006. However, we have some reservations about the benchmark aware approach combined with a high fee. With amongst the highest cost in the category we believe Fidelity Singapore may struggle to consistently beat peers and the custom benchmark on a forward looking basis.
--Arne Hilke, Research Analyst
