Hughes has come under increasing pressure at Loftus Road in recent weeks with the team taking just two points from their opening seven Premier League games.
"Unfortunately or fortunately we are a higher profile club, we are five points away from being in the middle and you don't see the other clubs getting the kind of pressure we're getting but that comes with the territory," Fernandes told Sky Sports News.
"So no panic. Mark's done it in Fulham, he's done it in Blackburn and I have got to say even at Man City the core championship side were players Mark brought in.
"So he has my full confidence and I hope I am proven right in a big way that I can answer all these critics and armchair critics."
QPR return to Premier League action on Sunday when they host Everton.