He will replace current manager Shinji Higaki on 1 September, with the month of August expected to be a smooth transition period.
Price is based in Japan and has over 20 years’ experience in the Japanese equity market, the firm said, and should not be confused with Fidelity emerging markets manager, Nick Price, who is based in the UK.
According to David Robins, Fidelity Japanese Values chair, the coordinated, pro-growth policies implemented by Shinzo Abe’s government and the concomitant changes in corporate behaviour mean that the outlook for Japanese equities remains attractive in aggregate.
But, he added, as reason for the change in manager: “The Board believes that it is important to refresh the trust from time-to-time to ensure that it continues to deliver strong performance in different markets.
“Nick’s investment approach, which is focused on ‘growth at reasonable price’, combined with his consistent focus on mid and small cap growth stocks, utilising Fidelity’s extensive research capability is an ideal fit for the Company.”
Price currently manages a number of Fidelity’s Japanese funds, the firm said, including the Fidelity Funds Japan Aggressive Fund.
According to Fidelity, Higaki will continue to manage domestic Japanese mandates at Fidelity.
