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20.12.2021 09:00:03
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Edison Investment Research Limited: Fidelity Emerging Markets (FEML): Initiation - Refocusing on higher returns
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Edison Investment Research Limited
Fidelity Emerging Markets (FEML): Initiation - Refocusing on higher returns
Fidelity Emerging Markets (FEML, formerly Genesis Emerging Markets, GSS) was transferred to Fidelity in October 2021, following board recommendation and a favourable shareholder vote. FEML mirrors the FAST fund (£346m at 30 November), which has achieved a strong track record over the past 10 years, consistently outperforming the MSCI Emerging Markets Index under lead fund manager Nick Price. Like FAST, FEML can take both long and short positions (subject to strict limits). It is differentiated by the ability to buy less liquid stocks, due to its closed-ended structure. Relative to long-only strategies, FEML can build a higher gross long exposure, which the Fidelity team believes offers greater scope for outperformance.Under Genesis Investment Management, the company grew shareholder value over the long term, outperforming the benchmark. Fidelity aims to maintain this and to augment returns over the cycle, applying; resources that are available to Fidelity: research analysts based locally in Asia, who are industry experts, liaising with local managers as well as suppliers and competitors; and a broad range of investment techniques: maintaining net exposure at c 100%, investing in ideas with the highest conviction, shorting losers, using pair trades to achieve a return from both long and short positions, receiving additional income from the derivatives strategy. Click here to view the full report or here to sign up to receive research as it is published. All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Victoria Chernykh +44 (0)20 3077 5700 investmenttrusts@edisongroup.com Sarah Godfrey +44 (0)20 3681 2519 investmenttrusts@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv
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1259514 20-Dec-2021
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