Fidelity Pacific BasinFPBFX

Morningstar Rating

Fund Research and Analysis

by Karin Anderson

Investors should resist the tantalizing returns of Fidelity Pacific Basin.

Smaller-cap international stocks have posted some of the most dramatic gains during this year's rally. So, manager Dale Nicholls' heavy emphasis on these burgeoning businesses has certainly made this fund's performance stand out. Read more

Kudos

Relatively low costs.

Manager's focus on mid-caps and markets outside of Japan give this fund appeal as a diversifier.

Supported by a broad Asia research team.

Risks

Management's small-cap focus has resulted in very high volatility.

Fidelity has a mixed record investing in emerging markets.

This is the manager's first portfolio-management stint on a broad Asia fund. Read more

Strategy

Dale Nicholls aims to use Fidelity's research analysts to ferret out ideas. He prefers smaller-cap stocks and is far more willing than his predecessor to venture outside of Japan. Nicholls looks for growth potential but also puts a premium on cash flow and the strength of a company's management team. Read more

Management

Dale Nicholls took over this portfolio in October 2004 from Bill Kennedy, who was tapped to manage Fidelity International Discovery FIGRX. Nicholls managed Fidelity Advisor Japan FJPAX from September 2003 to September 2007. He began working as an analyst in Fidelity's Tokyo office in 1996 and has managed sector funds available only in Japan. Read more

Inside Scoop

This is a different fund than it was before manager Dale Nicholls took over in October 2004. The once Japan-centric portfolio is now far more diversified geographically. Read more

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