(Yicai Global) Jan. 3 -- FIL Investment Management (Shanghai) Co., investment firm Fidelity International's wholly foreign-owned enterprise in Shanghai, unveiled an equity-focused private fund that is the first of its kind to get approval from Chinese regulators.

Fidelity's first onshore stock-focused private fund will put money into the A-share market, and investment targets that its manager, Lynda Zhou, studied have attracted attention within the industry, Chinese media International Financial News reported.

The market will likely measure the Shanghai unit's ability based on the Fidelity China Equity No. 1 Private Fund's performance, so its manager is under great pressure. Zhou will use Fidelity's bottom-up research methods to choose stocks. Zhou has worked in the industry for 10 years and has rich experience in investment, a Fidelity official said.

Fundamentals will drive up the A-share market in the long run, Zhou said, adding that she will focus on opportunities implicit in long-term structural changes in China. The country's economy is expected to grow steadily this year and rising consumerism and high-end manufacturing will give investors openings, she said. Liquidity may be a major challenge, said Zhou.

Since November, Zhou has intensively studied oil field equipment maker Yantai Jereh Oilfield Services Group Co. [SHE:002353] and chemical firms Shanghai Anoky Group Co. [SHE:300067], Zhejiang Hailide New Material Co.[SHE:002206] and Zhejiang Runtu Co. [SHE:002440].