Fidelity Global Emerging Markets Active ETF

ASX:FEMX

Fidelity Global Emerging Markets Active ETF
Fund fact sheet Invest now

About this fund

Invests in a concentrated portfolio of typically 30 to 50 companies in emerging markets. The fund favours those companies that have a track record of robust corporate governance.

A rigorous bottom-up stock selection process that focuses on companies that we believe are well positioned to generate returns through market cycles and have demonstrated a track record of strong corporate governance.

A portfolio construction process based on conviction of quality and returns over time, with no reference to an underlying index.

Why this fund

Instantly access a prudent, focused investment process designed to provide you with attractive returns over time, and minimise downside risk.

One trade gives you access to 47 analysts on the ground in emerging markets, including China and India, means we understand local businesses and markets

There is no paperwork for investors with a trading account and no minimum investment size.

Why emerging markets, why now?

Meet Amit Goel: He shares his investment philosophy in the Indian equity market

Amit Goel, Portfolio Manager of Fidelity’s Global Emerging Markets Strategies talks about his philosophy, where he is finding opportunities in emerging markets and why active management is so important when investing in the region.

Our best ideas in emerging markets

Uncover the Fidelity Advantage to investing in emerging markets. Our strong on-the-ground presence allows our team of global analysts to research companies deeply so that we can invest in the best quality companies that we think will outperform over the next 10-15 years.

Key facts

Ticker details
  FUND INAV
ISIN AU0000027708  
SEDOL BGDQ7G1  
RIC FEMX.AX FEMXAUiv.P
Bloomberg Code FEMX AU Equity FEMXIV Index
End of day price (at 16/07/24)
AUD $5.89
Download end of day historyUnits on issue

At a glance

Objective
To achieve returns in excess of the MSCI Emerging Markets Index NR over the medium to long term.
Benchmark
MSCI Emerging Markets Index NR
Management costs2
0.99% p.a.
Fund size (at 16/07/24)
A$207.67M
Active ETF inception date
29 October 2018
Distribution frequency
Annually
Currency
Australian dollar

Unique identifiers

ASX code
FEMX
ARSN code
627296959

Fund manager

Amit Goel
Singapore

Performance3

Chart as at: 30 June 2024

Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Returns of the Fund can be volatile and in some periods may be negative. The Fund is subject to the risk of stock market fluctuations. The return of capital is not guaranteed. Inception date is 29 October 2018. Benchmark: MSCI Emerging Markets Index NR. NR at the end of the benchmark name indicates the return is calculated including reinvesting net dividends. The dividend is reinvested after deduction of withholding tax, applying the withholding tax rate to non-resident individuals who do not benefit from double taxation treaties.

Net returns as at 30 June 2024

Timeframe 1 yr
%
3 yr
% pa
5 yr
% pa
Since inception
(29/10/18) % pa
Fund -2.00 -4.21 3.97 8.02
Benchmark 12.18 -1.29 4.12 6.30
Active return -14.18 -2.92 -0.15 1.72

Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Returns of the Fund can be volatile and in some periods may be negative. The Fund is subject to the risk of stock market fluctuations. The return of capital is not guaranteed. Inception date is 29 October 2018. Benchmark: MSCI Emerging Markets Index NR. NR at the end of the benchmark name indicates the return is calculated including reinvesting net dividends. The dividend is reinvested after deduction of withholding tax, applying the withholding tax rate to non-resident individuals who do not benefit from double taxation treaties.

DistributionDistribution (CPU)Reinvestment price
30-Jun-2421.0299$5.7444

CPU = cents per unit. The above cash CPU excludes imputation credits and foreign income tax offsets which are non-cash components and are reported in the end of year tax statement. If the Distribution CPU column is 0.0000 it means that nothing was distributed. 

Sectors and holdings

As at 30 June 2024

As at 30 June 2024

% total net assets
TAIWAN SEMICONDUCTOR MFG CO LTD 10.0%
SAMSUNG ELECTRONICS CO LTD 6.6%
HDFC BANK LTD 4.8%
NASPERS LTD 4.1%
AXIS BANK LTD 3.5%
AIA GROUP LTD 3.2%
ICICI BANK LTD 3.1%
CHINA MENGNIU DAIRY CO 2.8%
BANK CENTRAL ASIA TBK PT 2.8%
LI NING CO LTD 2.7%

Fund ratings4

Organisation Rating / Recommendation
Lonsec
Investment Grade6
The report is only available to financial services professionals, please contact Fidelity to get a copy
Morningstar Neutral7
Zenith Recommended8

ASX announcements

All ASX announcements

Ways to invest

This Fund is subject to the risk of stock market fluctuations. Investors accessing the Fund through a master trust or wrap account will also bear any fees charged by the operator of such master trust or wrap account. Any apparent discrepancies in the numbers are due to rounding.

1 An intraday optimised portfolio value (IOPV) for each fund will be published throughout the ASX trading day. The IOPVs are calculated by ICE Data Indices, LLC based on the latest price of each security, amongst other factors.  In equity constituent market value calculations, the last reported trade price from the composite feed (US) or primary listing exchange (non-US) is used for the latest price of each security, when those exchanges are open.  When those exchanges are closed, the IOPV calculation can incorporate the Real-Time Fair Value Information Service from ICE Data Pricing & Reference Data, LLC which is a multi-factor model that calculates a real-time estimate of the price that would likely prevail in a liquid market for an equity security following the close of the local market.  For more information on Fair Value Information Service methodology, please refer to: https://www.theice.com/market-data/pricing-and-evaluations/fair-value.  

For IOPVs with fixed income securities, ICE Data Pricing & Reference Data, LLC’s Continuous Evaluated Pricing (CEP) service can be used to price such fixed income securities. As market data becomes available and passes internal system tolerances and parameters, CEP will update throughout the day. While updates to CEP occur more frequently during local market trading hours, CEP will update outside of normal trading hours based on market information that is available at that time. For constituents where CEP is not available, either the prior day’s evaluation or a client-provided price may be used in the IOPV calculation instead. For more information about Continuous Evaluated Pricing, please refer to: https://www.theice.com/market-data/pricing-and-evaluations/cep

The iNAV calculations as shown (the “Data”) and provided by ICE Data Indices, LLC are updated during ASX trading hours. Powered by Factset. iNAV calculations are indicative and for reference purposes only.

The Fund is not sponsored, endorsed, sold or marketed by ICE Data Indices, LLC, its affiliates (“ICE Data”) or their respective Third Party Suppliers. 
ICE DATA OR ITS THIRD PARTY SUPPLIERS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE IOPVS, ETF STATISTICS, FUND OR ANY FUND DATA INCLUDED THEREIN.  IN NO EVENT SHALL ICE DATA HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, DIRECT, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

2 Total returns (net) have been calculated using the net asset value of the Fund from one period to the next. The returns include any re-invested distributions and are after fees and expenses. No allowance has been made for taxation. For periods of less than one-year returns are not annualised. The return of capital is not guaranteed.

3 Total returns (net) have been calculated using exit prices and take into account the applicable buy/sell spread and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax. Returns of more than one year are annualised. The return of capital is not guaranteed. 

4 The following is a list of required terms in all Customer Agreements.

  • The Customer shall represent that it will not redistribute the Service in any form or manner to any third party.  Use of the Service shall only be by employees of Authorized Users and solely for internal business purposes or personal, non-commercial use, as permitted in Licensee’s agreement with MSCI or S&P.

  • The Customer shall represent that it will not use or permit anyone else to use the Service to create any securities products or indices based on the Service or any portion thereof.

  • The Customer shall represent that it will treat the Service as proprietary to MSCI and S&P, and/or their affiliates, and/or their third party providers.  Further, the Customer shall acknowledge that MSCI and S&P, and/or their affiliates, and/or their third party providers are the sole and exclusive owners of the Service (including all trade secrets, copyrights, trademarks and other intellectual property rights in or to the Service).

  • The Customer shall represent that it will not, other than as expressly permitted in Licensee’s agreement with MSCI or S&P: (i) alter, modify or adapt any component of the Service, including, but not limited to, translating, decompiling, disassembling, reverse engineering or creating derivative works; or (ii) use the Service to verify the accuracy of other data or to correct such other data; or (iii) resell or otherwise transfer or make the Service, or any part or component thereof, available to any other person or organization (including, without limitation, the Customer's present and future parents, subsidiaries or affiliates) directly or indirectly, for any of the foregoing or for any other use, including, without limitation, by loan, rental, service bureau, external time sharing or similar arrangement.

  • The Customer shall acknowledge that (i) S&P or MSCI may, in its sole and absolute discretion and at any time, terminate the Customer’s right to receive and/or use the Service; and (ii) provision of the Service is subject to termination in the event that the relevant agreement between Licensee and MSCI or S&P is terminated in accordance with its terms.

  • The Customer shall acknowledge S&P or MSCI as a third party beneficiary of the Customer Agreement, entitled to enforce all provisions of such agreement relating to the Service.

  • Each Customer Agreement shall include a disclaimer of warranties and liability using the following language or substantially similar language:

THE DATA ARE PROVIDED TO CUSTOMER ON AN "AS IS" BASIS.  FIL INVESTMENT MANAGEMENT LIMITED, ITS INFORMATION PROVIDERS, AND ANY OTHER THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING OF ANY OF THE DATA MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE DATA (OR THE RESULTS TO BE OBTAINED BY THE USE THEREOF).  WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, LICENSEE, ITS INFORMATION PROVIDERS AND ANY OTHER THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING ANY OF THE DATA EXPRESSLY DISCLAIM ANY AND ALL WARRANTIES OF ORIGINALITY, ACCURACY, TIMELINESS, COMPLETENESS, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE. 

CUSTOMER ASSUMES THE ENTIRE RISK OF ANY USE CUSTOMER MAY MAKE OF THE DATA.  IN NO EVENT SHALL LICENSEE, ITS INFORMATION PROVIDERS OR ANY THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING OF ANY OF THE DATA, BE LIABLE TO THE CUSTOMER, OR ANY OTHER PERSON, FOR ANY DIRECT OR INDIRECT DAMAGES, INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, LOST SAVINGS OR OTHER INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THIS AGREEMENT OR THE INABILITY OF THE CUSTOMER TO USE THE DATA, REGARDLESS OF THE FORM OF ACTION, EVEN IF LICENSEE, ANY OF ITS INFORMATION PROVIDERS, OR ANY OTHER THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING OF ANY OF THE DATA HAS BEEN ADVISED OF OR OTHERWISE MIGHT HAVE ANTICIPATED THE POSSIBILITY OF SUCH DAMAGES.

  • Each Customer Agreement shall include an indemnification clause using the following language or substantially similar language:

The Customer agrees to indemnify and hold harmless FIL Investment Management Limited, its information providers, and any other third party involved in or related to the making or compiling of the Service, from and against any claims, losses, damages, liabilities, costs and expenses, including reasonable attorneys’ fees and costs, as incurred, arising in any manner out of the Customer's or any third party's use of, or inability to use, the Service or any breach by the Customer of the use restrictions regarding the Service.

 

5 You should refer to respective research houses (and their disclaimers below) to obtain further information about the meaning of the rating and the rating scale. Ratings are only one factor to be taken into account when deciding whether to invest. Ratings are subject to change without notice and may not be regularly updated. Ratings are current as at date (s) stated below. Fidelity pays a fee to some research houses for rating our funds.

6 The Lonsec Rating (assigned May 2024) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to "General Advice" (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Fidelity International product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria.

7 © 2022 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice or ‘class service’ have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement (Australian products) or Investment Statement (New Zealand products) before making any decision to invest. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782 ("ASXO"). Rating assigned January 2022. 

8 Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned November 2023) referred to in this document is limited to “General Advice” (as defined by the Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessment’s and at http://www.zenithpartners.com.au/RegulatoryGuidelines