The London-listed company that focuses on medium-sized and smaller Japanese companies has named a new manager for its portfolio.

Fidelity Japanese Values, part of Fidelity Worldwide Investment, has appointed Nicholas Price as portfolio manager of the company.

Price joined Fidelity's Tokyo office over 20 years ago. In his new Tokyo-based role, he will assume full responsibility of the company's portfolio in September, taking over from Shinji Higaki.

“The board believes Nicholas’s investment approach, combined with his consistent bias towards mid- and small-cap growth stocks, is an ideal fit for the company. The board would like to thank Shinji for his diligent management of the portfolio over the past eight years,” David Robins, chairman of Fidelity Japanese Values, said.

Price currently manages a number of Fidelity’s Japanese funds, including the Fidelity Funds – Japan Aggressive Fund. Over three years, the small- and mid-cap equity fund beat 87 per cent of its Morningstar GIF Japan Mid Small Cap peers. Year-to-date, it has returned 15.37 per cent.

Fidelity Worldwide Investment, which operates from 24 countries, managed or administered £191.2 billion ($297.6 billion) in assets as of the end of March.