William Kennedy, portfolio manager in the equity division of Fidelity Investments, believes that when it comes to the next great investment opportunity, Asian Tigers will be the next big thing.

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“The thing that really piqued my interest was that Japan was doing very well but there were other countries — Hong Kong, Taiwan, South Korea, Thailand, Indonesia, Malaysia — the smaller Asian Tigers were bubbling to the surface. I said that is where the next opportunity is going to be,” he said.

He specifically mentioned India as a country with a lot of potential, due to its structural growth and high rates of return on equity (RoEs).

He believes India is benefitting from the China+1 strategy. “However, my sense is that it will be a process that will certainly develop over the next couple of years. The only thing that needs to happen in India is favourable government policies to accelerate that process,” he said.

Kennedy manages Fidelity International Discovery Fund, Fidelity Advisor International Discovery Fund, Fidelity Worldwide Fund, and Fidelity Advisor Worldwide Fund. He recently spoke to CNBC-TV18 about his investments and the future of the Asian markets. Kennedy, who has been in the investment industry for many years, has a keen eye for opportunity and has made some valuable investments in the past.

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Kennedy is no stranger to the Indian market, having visited the country for the first time in 1994. He was impressed by the country's potential even back then, and has continued to invest in the market ever since. In fact, one of his top holdings to this day is HDFC, which he met during his first visit to India.

Despite his optimism about the Asian markets, Kennedy is well aware of the challenges that come with investing. He said that one thing he has learned over the years is that it is never wise to predict the direction of the markets.

Prior to assuming his current responsibilities, Kennedy managed Fidelity Pacific Basin Fund and Fidelity Advisor Japan Fund.

Previously, he served as an assistant portfolio manager and as a research analyst covering investment opportunities in India and the regional power sector.

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Kennedy also served as director of equity research in Fidelity's Hong Kong office as well as group leader of the Global Research group. He has been in the financial industry since 1990. He earned his Bachelor of Arts degree in Economics from the University of Notre Dame.

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First Published:Feb 13, 2023 6:51 PM IST