Edison Investment Research Limited: Fidelity Emerging Markets (FEML): Initiation - Refocusing on higher returns

EQS Group
Dec. 20, 2021, 03:00 AM

Edison Investment Research Limited
Edison Investment Research Limited: Fidelity Emerging Markets (FEML): Initiation - Refocusing on higher returns

20-Dec-2021 / 08:00 GMT/BST

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.

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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.
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1259514  20-Dec-2021