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Fidelity hires ex-BlackRock manager for China fund

Fidelity hires ex-BlackRock manager for China fund

Fidelity Worldwide Investments has hired former BlackRock manager Jing Ning and handed her the firm’s $3.9 billion China equity fund.

Ning (pictured), who departed BlackRock in July, replaces Martha Wang as lead manager on the Fidelity Funds – China Focus fund.

Wang had overseen the Luxembourg-domiciled fund since May 2006. She will be working with Ning to transition the running of the fund before leaving Fidelity on October 31.

It is understood Wang will be taking a career break upon her departure from the company.

Commenting on the appointment, John Ford, Fidelity’s chief investment officer for Asia-Pacific, said:'Jing’s stock picking style is closely aligned with Fidelity’s own research-intensive, bottom up approach and she will be a welcome addition to our equity capabilities in the region.'

‘The Chinese market remains a key focus for our business and a potential source of enormous future growth and opportunity.’

In her new role, Ning will serve as lead manager on the China equity fund and bring with her the experience of having running a similar strategy at BlackRock.

During her tenure with the US asset management giant, Ning had been the lead manager on the $725 million BGF China fund, which she was handed in June 2008.

BlackRock’s Andrew Swan, head of Asian Fundamental Equity, and Emily Dong, co-manager on the BGF Asian Growth Leaders funds, took over Ning’s fund.

The Fidelity Funds – China Focus A-USD fund lost 1.8% over the three years to the end of August 2013. This compares to a rise of 5.66% by its Citywire benchmark, the MSCI China 10/40 TR USD, over the same period.

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