Following an investigation into a breach of the firm's code of ethics, Fidelity fired Wilson Wong and Kevin Chang, former managers of Fidelity China Region and Fidelity Advisor Emerging Asia. The two were suspended when the investigation began mid-January, and at that time, Fidelity announced several manager changes. 14 funds under Wong and Chang’s management have been taken over by Fidelity’s experienced Asia-Pacific team, including Joseph Tse, Martha Wang and Teera Chanpongsang.
The firm indicated that the ethics breach had no negative impact on its clients' funds, though the Financial Times reported that Wong and Chang's use of personal trading accounts sparked the investigation.
