Fidelity Says China Strategy Unchanged Amid Mutual Fund Exit Speculation

Fidelity International said there has been “no change” to its China strategy or market positioning, responding to speculation that it is considering a retreat from its wholly owned mainland mutual-fund business.

The comments come as global asset managers face mounting pressure in China, where intense competition from domestic firms, frequent management turnover and difficulties in building scale have prompted some foreign peers to reduce their local operations.