Fidelity, HSBC point to Asian dividend bonanza

Fund houses are talking up equity dividends as a valuable income source for investors in 2013, given attractive yields relative to government bonds and likely constraints on global growth. “Asia is in a dividend sweet-spot since cashflows are growing together with falling capital expenditure and gearing levels,” says Matthew Sutherland, senior investment director for equities at Fidelity Worldwide Investment. Gearing levels have been falling since the Asian financial crisis of 1…