“Edison’s accessible and high-quality research gives us the opportunity to communicate an independent perspective of Tyman to a wide variety of potential stakeholders.”
Currency in GBP
Last close As at 25/03/2023
GBP5.75
▲ 0.50 (0.09%)
Market capitalisation
GBP524m
Launched in July 1989, Genesis Emerging Markets was one of the first emerging markets (EM) funds in the UK. Managed by Fidelity from 4 October 2021 (and renamed Fidelity Emerging Markets), it seeks long-term capital appreciation through investing in securities and financial instruments, providing exposure to emerging markets companies. Performance is benchmarked against the MSCI Emerging Markets Index.
Investment Companies
Investment Companies
Investment Companies
Investment Companies
Director, Investment Trusts
Nick Archer
Client Relationships
| % | 1M | 3M | 12M |
|---|---|---|---|
| Actual | (7.7) | (3.3) | (14.7) |
| Relative | (3.2) | (4.4) | (13.7) |
| 52 week high/low | 691.0p/555.1p |
Fidelity Emerging Markets (FEML) has been managed by portfolio managers Nick Price and Chris Tennant since October 2021. The portfolio faced a challenging 2022 as emerging markets declined sharply in what was the worst year for the asset class since the global financial crisis. According to Fidelity, valuations now appear attractive, with the MSCI Emerging Market Index trading on a multiple of c 12x P/E at the end of 2022, relative to the MSCI World Index (23 developed markets), which traded on c 17x. The portfolio’s underperformance over the year was driven by its overweight exposure to Russia, although performance started to stabilise towards the end of the period. The managers continue to seek out high-quality companies with strong balance sheets and have looked for opportunities to increase exposure to value-oriented parts of the market on a highly selective basis.
Get access to the very latest content matched to your personal investment style.
