Fund data provider Morningstar has placed an Indonesian equity fund from Fidelity Investments under review ahead of the replacement of its manager, Dhananjay Phadnis, on April 1.
Gillian Kwek, who managed the Indonesia fund between 2006 and 2008 and who currently manages Fidelity's ASEAN fund, will take over.
Morningstar says the changeover will allow Phadnis to spend more time on other regional portfolios, such as the Fidelity Funds - South East Asia Fund, which he took over from Allan Liu on March 1. That fund was also put on review before the switch.
Established in 1994, the Fidelity Funds - Indonesia Fund is a Luxembourg-domiciled Ucits product. It returned 4.1% in the last twelve months, according to data from Bloomberg.
Morningstar previously gave the Indonesia fund a silver rating.
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