Luxembourg-domiciled umbrella fund.

The new fund, Fidelity Asian Special Situations as of Monday had only been launched in Hong Kong.

To mark the launch of this new fund, Fidelity is discounting initial charges for the month of November 1994, said Mr. Kirk Caza, vice president of Fidelity International Investment Advisors.

"Instead of the usual charge of 5.25 percent we will reduce the charge by one percent during this period for investors in our region,'' he added.