Overview
Fdelity Emerging Markets (formerly Genesis Emerging Markets : GSS) tries to provide shareholders with a broadly diversified means of investing in developing countries and immature stock markets, and thus to provide access to “superior returns offered by high rates of economic and corporate growth“*, whilst limiting individual country risk.
Fidelity Emerging Markets Limited (FEML) utilises the breadth and depth of Fidelity’s research resources to build a portfolio of quality growth emerging market companies that have the ability to deliver strong and sustainable investment returns. FEML also actively takes advantage of its closed-end structure, with the portfolio management team utilising an extended toolkit to express both positive and negative investment views in an efficient manner. The manager feels that this is particularly attractive in emerging markets, where equity markets are more volatile and valuations can move to extreme levels in both directions.
The fund’s website can be found here.
*company’s claim
Fundamentals
Price
Research History
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06 Apr 2023 82 min read
QuotedData’s Economic and Political Monthly Roundup April 2023
Economic and Political Monthly Roundup Investment companies | Monthly | April 2023 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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10 Mar 2020 6 min read
QuotedData’s Economic Roundup – March 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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22 Mar 2019 2 min read
QuotedData’s economic roundup – March 2019
QuotedData’s economic roundup – March 2019 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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13 Nov 2018 1 min read
QuotedData’s economic roundup – November 2018
QuotedData’s economic roundup – November 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any […]
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14 Jun 2017 1 min read
QuotedData investment companies roundup – June 2017
QuotedData investment companies roundup – June 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2017. Kindly sponsored by Baillie Gifford. June Investment Companies Roundup Japan was one of the best places to be […]
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15 Mar 2017 1 min read
QuotedData’s round up of views on the global economy – March 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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13 Oct 2016 1 min read
QuotedData’s round up of views on the global economy – October 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. october-economic-and-political-roundup
News
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09 Oct 2024 2 min read
Fidelity Emerging Markets delivers welcome performance improvement
Fidelity Emerging Markets has published results covering the year ended 30 June 2024 and they are good. After a difficult year in 2022, when the trust was hit hard by Russia’s invasion of Ukraine, and then a period of consolidation in 2023, for the latest year the trust reported a NAV total return of +18.7% […]
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05 Apr 2024 1 min read
QuotedData’s weekly news show 5th April 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • JPMorgan American (0:48) • Downing Strategic Micro Cap (6:55) • Fidelity Emerging (11:18) Andrew highlighted the opportunity in commodity trusts and in renewables (14:03) This week’s […]
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26 Mar 2024 1 min read
QuotedData’s morning briefing 26 March 2024 – JEMA, AWEM, VOF, FEML
In QuotedData’s morning briefing 26 March 2024: JPMorgan Emerging EMEA Securities (JEMA) has announced that manager Pandora Omaset is pursuing other opportunities external to JPMorgan. Oleg Biryulyov continues to be the company’s investment manager supported by JPMorgan Asset Management’s investment management team and the investment process for the company’s portfolio management will remain unchanged. Ashoka […]
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10 Nov 2023 1 min read
QuotedData’s morning briefing 10 November 2023 – FEML
In QuotedData’s morning briefing 10 November 2023: Fidelity Emerging Markets (FEML) has announced a correction to the dividend rate detailed in its annual report (in both the financial highlights and the chairman’s statement). The dividend rate is 19 cents per participating preference share and not 0.19 cents per participating preference share. All other details remain […]
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13 Oct 2023 11 min read
Fidelity Emerging Markets posts small NAV loss comparable to benchmark
Fidelity Emerging Markets (FEML) has published its annual results for the year ended 30 June 2023, during which it provided an NAV total return of -2.6% and a share price total return of 5.2%, which compare against a total return for its benchmark of -2.8% (all figures in sterling terms). Key highlights from the report […]
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14 Mar 2023 1 min read
QuotedData’s morning briefing 14 March 2023
Fidelity Emerging Markets (FEML) released half year results for the period ended 31 December 2022. The share price was down -2.9%, trailing the MSCI Emerging Markets Index which was -2.19%. NAV fell 3.2% while the discount was 12%. The company highlighted weakness in Chinese material companies amid property sector challenges as the primary cause for […]
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07 Oct 2022 10 min read
Fidelity Emerging Markets suffered double-whammy from Russian invasion
In its annual results for the year ended 30 June 2022, Fidelity Emerging Markets’ (FEML) chairman, Hélène Ploix, says that “there have been multiple factors which have led to the poor performance of emerging markets, and the performance of the portfolio, during the period but the most significant of these was doubtless Russia’s invasion of […]
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19 Nov 2021 3 min read
QD view – Turn and face the change
Last night, members of the QuotedData team attended the annual Investment Company of the Year Awards in London, hosted by leading investment trade title Investment Week and sponsored by the Association of Investment Companies. This year, the Jackie Beard Award for Outstanding Contribution to the Industry was awarded to two individuals that have been in […]
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01 Nov 2021 3 min read
Fidelity Emerging Markets posts first results under new manager
Fidelity Emerging Markets posts first results under new manager – Fidelity Emerging Markets (FEML) has posted its annual results for the year to 30 June 2021, and its inaugural results under the management of Fidelity, having previously been run by Genesis Investment Management. During the twelve months under review, the NAV increased by 23.1% in […]
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25 Oct 2021 2 min read
QuotedData’s morning briefing 25 October 2021
In QuotedData’s morning briefing 25 October 2021: Schroder Asia Pacific (SDP) has appointed Julia Goh as an independent non-executive director, with effect from 25 October 2021. She will also be a member of the audit and risk, nomination and management engagement committees. Her 27 years of broad-based financial services experience includes being a managing director […]
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22 Oct 2021 1 min read
QuotedData’s weekly news show 22 October 2021
QuotedData’s weekly news show 22 October 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Scottish Investment Trust • Fidelity Emerging • Life Science REIT • Bits and pieces This week’s interview […]
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3 min read
QD view – busy boards
I have long thought that one of the great strengths of the investment companies sector is the boards of independent directors working on investors’ behalf to keep managers and other service providers in check, keep a lid on overheads and ensuring that shareholders are treated fairly. While not every investment company is a shining example […]
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19 Oct 2021 1 min read
Huge take-up for Fidelity Emerging tender spells trouble
Huge take-up for Fidelity Emerging tender spells trouble – As we have discussed previously, Fidelity Emerging Markets offered investors a 25% tender offer in conjunction with the move of the manager from Genesis to Fidelity. The size of the vote against this decision was one indication that shareholders were uneasy. However, now we have decisive […]
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08 Oct 2021 1 min read
QuotedData’s weekly news show 8 October 2021
QuotedData’s weekly news show 8 October 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Greencoat Renewables • Fidelity Emerging This week’s interview was with Steven Tredget of Oakley Capital Investments – […]
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05 Oct 2021 2 min read
Fidelity Emerging manager welcomes investors
Fidelity Emerging manager welcomes investors Fidleity Emerging has published this introductory letter. Dear Shareholders and potential investors, Following the EGM held on Friday, Chris Tennant (Co-Portfolio Manager) and I, are delighted to have been asked to take over the management of the newly named Fidelity Emerging Markets Limited (“FEML”). We would like to thank you […]
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04 Oct 2021 2 min read
QuotedData’s morning briefing 4 October 2021
In QuotedData’s morning briefing 4 October 2021: Seed Innovations (SEED) has invested a further £150,000 in South West Brands, a London-based company seeking to establish itself as a multi-brand consumer goods group developed specifically for the CBD industry. The investment is by way of a second 12-month, 8% convertible loan note as part of a […]
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24 Sep 2021 1 min read
QuotedData’s weekly news show 24 September 2021
QuotedData’s weekly news show 24 September 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: US solar funds CQS New City High Yield Genesis Emerging Markets This week’s interview was with Peter Hewitt […]
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20 Sep 2021 2 min read
Genesis speaks out on future of Emerging Markets trust ahead of EGM to change manager and investment policy
Genesis speaks out on future of Emerging Markets fund ahead of of EGM to change manager and investment policy – Following the news in July that Genesis Emerging Markets would be appointing Fidelity as its new manager, implementing a new investment policy and other changes, the board has proposed a vote at an EGM, scheduled to take […]
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02 Jul 2021 1 min read
QuotedData’s weekly news show 2 July 2021
QuotedData’s weekly news show 2 July 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew and Jayna Rana covered the week’s top stories: Bluefield Solar Income Fund plan to buy 109 wind turbines Genesis Emerging Markets – Fidelity […]
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01 Jul 2021 3 min read
Genesis Emerging Markets to appoint Fidelity as new manager
Genesis Emerging Markets to appoint Fidelity as new manager – The board of Genesis Emerging Markets (GSS) has completed its extensive review of its management arrangements and has revealed that it intends to appoint Fidelity International as its new manager and to rename the trust as Fidelity Emerging Markets. The named managers will be Nick […]
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01 Oct 2019 1 min read
QuotedData’s other news 1 October 2019
In QuotedData’s other news 1 October 2019: Genesis Emerging Markets (GSS) reported annual results covering the year to 30 June 2019. The shares delivered a total return of 11.1% while the NAV was up 9.0%. The fund benefitted from opportunities arising from market weakness at the end of 2018 and into early 2019, with several new […]
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03 Oct 2018 2 min read
Genesis Emerging Markets lowers its fees to tighten discount
Genesis Emerging Markets lowers its fees to tighten discount – Genesis Emerging Markets Fund (GSS) has published it’s results for the year ended 30th June 2018. The NAV total return per share of the company rose by 6.8% over the twelve month period, which is in line with its benchmark, the MSCI EM (TR) Index. The share price, however, returned 8.4%. Performance After two […]
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15 Dec 2017 4 min read
Henderson Alternative Strategies benefits from marked discount narrowing
Henderson Alternative Strategies Trust (HAST) has announced its annual results for the year ended 30 September 2017. During the period, HAST provided an NAV total return of 10.8% and, reflecting a marked narrowing of the discount, a share price total return of 19.8%. The share price performance is superior to that of the company’s benchmark, […]
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29 Sep 2017 2 min read
Board sticking by Genesis
Board sticking by Genesis – Genesis Emerging Markets Fund Limited has announced results for the year ended 30 June 2017. The MSCI Emerging Markets returned 27.8% to UK investors. The discount to NAV narrowed marginally from 13.1% at the beginning of the period to 12.9% at the end. The NAV increased from 621.4p to 749.6p. The share price rose […]
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23 May 2017 1 min read
Genesis Emerging Markets chops fee
The Board of Genesis Emerging Markets informs shareholders that, following discussion with Genesis Asset Managers, LLP, there is to be a reduction in the management fee the Manager is entitled to receive from the Fund. The new management fee will be 0.95% per annum, which is charged on the Net Asset Value of the Fund. […]
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28 Sep 2016 2 min read
Genesis Emerging rules out dividends for now
Genesis Emerging Markets has published its results for the year ended 30 June 2016. The MSCI Emerging Markets (TR) Index fell 11.7% in US dollar terms over the year. However, for UK investors the dramatic weakening of sterling against the US dollar during the weeks around the EU referendum meant that in sterling terms the […]
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22 Feb 2016 1 min read
Genesis Emerging beats falling markets but could do better
Genesis Emerging says, over the second half of 2015, the Fund’s net asset value per share declined from 572p to 514p, a loss of 10.1%. The Fund’s share price also fell by 10.1% during the period with the discount ending 2015 at 11.9%. Although this result was slightly ahead of the Index, both the Board and the […]
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29 Sep 2015 1 min read
Genesis shareholders see 10% underperformance in year to end June
Genesis Emerging Markets underperformed its benchmark over the year to the end of June 2015 – the return on net assets was -1.1% while the return on the MSCI Emerging Markets Index was +3.5%. Unfortunately for shareholders the discount widened as well, from 6.1% to 11.8% and this translated into a -7.2% return to shareholders, […]
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20 Feb 2015 1 min read
Genesis Emerging cuts fees
Genesis Emerging Markets has reported an NAV that has barely changed over the six months to the end of December 2014 – falling from 578p to 576p. The share price fell by 4% however as the fund’s discount widened to 9.4%. Following a regular internal review, the Manager has considered that a reduction in the […]
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26 Sep 2014 1 min read
Genesis Emerging Markets sells expensive Chinese internet stocks
GSS : Genesis Emerging Markets sells expensive Chinese internet stocks Genesis Emerging Markets has published its results for the year ended 30 June 2014. Over the period its net asset value rose from £5.61 to £5.78 – Sterling strength had an adverse impact on returns to UK investors. The 3% rise in the NAV came […]
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25 Feb 2014 1 min read
Genesis Emerging Markets : GSS – interim results
Genesis Emerging Markets marginally underperformed the MSCI Emerging Markets Index over the second half of 2013 as its net asset value fell by 1.4% against a fall of 1.2% for the index. Its discount narrowed however and shareholders saw the a share price return of 1%. The manager highlights currency weakness as a particular problem […]
Upcoming Events
In The Press
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23 Jul 2024 1 min read
Investment trust insider on the Trump-effect on emerging markets
Investment trust insider on the Trump-effect on emerging markets – James Carthew: A Trump win won’t thump all emerging markets If Donald Trump is re-elected as US president it is likely to be unhelpful for emerging markets, but countries, businesses and fund managers will navigate the inevitable gyrations. Recent events have increased expectations of a […]
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29 May 2024 1 min read
Will ‘activist investors’ turn these trusts around?
by Dave Baxter, Investors’ Chronicle, May 29, 2024: When Elliott Investment Management cut its stake in Scottish Mortgage (SMT) below 5 per cent earlier this month, it’s likely to have prompted a sigh of relief from the trust’s board.. The case for activists Activists are not always a helpful presence for other shareholders given that […]
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19 Feb 2024 1 min read
How the 10 funds to buy and hold forever have fared over the past five years
by Jennifer Hill from interactive investor, 19th February 2024: Markets have had to digest more than usual over the past five years. The period has seen the Covid-19 pandemic and Russia’s invasion of Ukraine, as well as soaring inflation and sharp reversals in monetary policy from quantitative easing and rock-bottom interest rates to a sustained […]
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21 Sep 2022 1 min read
Fundsmith Emerging Equities closure: ‘Not everything he touches turns to gold’
Investment Week, 15 September 2022: Following yesterday’s (14 September) revelation that the £319m Fundsmith Emerging Equities investment trust (FEET) would be entering a voluntary liquidation, industry experts were divided on the decision. Investment trusts being wound up is not uncommon and many would argue that it can be the right thing to do when a […]
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23 Dec 2021 1 min read
Bargain Hunter: three trusts shaking things up to tackle their big discounts
7th December 2021 by Kyle Caldwell from interactive investor There are various tools a board can use in an attempt to boost demand for shares. Here are some examples. When an investment trust is persistently out of favour, its board can spring into action in an attempt to tackle its discount… Change at the top In a […]
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19 Oct 2021 1 min read
Fidelity Emerging Markets hit by 85% ‘no confidence’ vote
By Gavin Lumsden, Citywire Investment Trust Insider, 19 Oct, 2021 at 16:39 Fidelity’s coup in winning the £1bn mandate to run the former Genesis Emerging Markets has hit a bump with 85% of the investment trust’s shareholders voting to cash in their shares yesterday. Fidelity will still hang on to three quarters of the trust’s assets as […]
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1 min read
Oversubscribed tender offer for Fidelity trust ‘spells trouble’
Oversubscribed with 85.1% electing to tender Kathleen Gallagher, Investment Week, 19 October 2021 In a stock exchange announcement today (19th October) the board trust said the 25% tender offer at a 2% discount to NAV was oversubscribed with £103.3m, representing 85.1% of shares in issue electing to tender. Fidelity Investment Management recently took over the […]
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02 Jul 2021 1 min read
Fidelity takes over Genesis EM trust
Fidelity will now manage £6bn in trusts Kathleen Gallagher, 01 July 2021, Investment Week Genesis Investment Management, which has run the fund for three decades, has stepped back from the trust as its investment approach “does not align well” with the board’s proposals to use derivates and leverage as well as their wish to focus […]
