Following the news of the impending retirement from active fund management of Mr Allan Liu, manager of the Fidelity Funds - South East Asia fund (SICAV), we have decided to remove the fund from Square Mile’s Academy of Funds. The fund previously had an AA Rating. We have a high opinion of Mr Liu, who has been investing in this region since 1990, skillfully navigating the often-challenging Asian equity stock markets using the same investment approach in this strategy since 1993. We wish him all the best going forward.

Mr Liu will stay with Fidelity in an advisory role up to 30 June 2015. However, the fund will be handed over to Dhananjay Phadnis on the 1st March 2015. On the same date, the fund’s reference index will change from the MSCI All Country Far East ex-Japan index to the MSCI All Country Asia ex-Japan index. The only difference between the two indices is that the MSCI All Country Asia ex-Japan index also includes India, while the MSCI All Country Far East ex-Japan index does not.