Fidelity South East Asia suffering with value bias

Fidelity continues to believe new economy stocks in Asia offer too much risk and despite its recent underperformance in the region, will continue to avoid investment in those areas. KC Lee, fund manager of Fidelity South East Asia fund, said over the past year two major themes in the area included strong returns by the Korean and Singapore market as well as the rapid growth in the technology, media and telecoms sector. Lee chose to steer clear of both and as such admits he was one of the few fund managers who underperformed. Lee said: "Obviously my investment style, emphasising track reco...