Investment objective
To achieve returns in excess of the MSCI Emerging Markets Index NR over the suggested minimum investment time period of seven years plus.
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.
Key facts
| FUND | INAV | |
|---|---|---|
| ISIN | AU0000027708 | |
| SEDOL | BGDQ7G1 | |
| RIC | FEMX.AX | FEMXAUiv.P |
| Bloomberg Code | FEMX AU Equity | FEMXIV Index |
Fund performance2
Net returns as at 31 December 2019
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | 32.06 | 18.61 | 13.45 |
| 3 yr % pa | - | - | - |
| 5 yr % pa | - | - | - |
| Since inception (29/10/18) % pa | 33.07 | 19.74 | 13.33 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (29/10/18) % pa |
|---|---|---|---|---|
| Fund | 32.06 | - | - | 33.07 |
| Benchmark | 18.61 | - | - | 19.74 |
| Active return | 13.45 | - | - | 13.33 |
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. 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.
Sectors and holdings
As at 31 December 2019
As at 31 December 2019
| % total net assets | |
|---|---|
| TAIWAN SEMICONDUCTR MFG CO LTD | 5.5% |
| BANK CENTRAL ASIA TBK PT | 5.2% |
| AIA GROUP LTD | 5.0% |
| HDFC BANK LTD | 4.2% |
| SAMSUNG ELECTRONICS CO LTD | 3.8% |
| LOJAS RENNER SA | 3.5% |
| TECHTRONIC INDUSTRIES CO LTD | 3.3% |
| CLICKS GROU LTD | 3.2% |
| HOUSING DEV FINANCE CORP LTD | 3.0% |
| SHENZHOU INTL GROUP HLDGS LTD | 3.0% |
Distributions, Fund payment summary and ASX announcements
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 28-Jun-19 | 4.5943 | $5.1434 |
Find details of the Fund's Attribution Managed Investment Trust ("AMIT") status and payment information below.
This information is provided solely for the purposes of determining MIT non-resident withholding tax under the Taxation Administration Act 1953 and should not be used for any other purpose.
Fund downloads
- The case for investing emerging markets
- Distribution Reinvestment Plan (DRP)(82.73KB)
- Infographic: Global Emerging Markets
- Product Disclosure Statement(182.60KB)
- Quarterly top 10 holdings(474.02KB)
- Active ETF Product distinctions flyer(136.02KB)
- Fund Flyer(647.85KB)
- Quarterly fund fact sheet(88.42KB)
Related insights
Five reason to be positive about EM
Investors are weighing up what 2020 may bring for emerging markets (EM). Like the years that went before, 2019 was not short of headlines but despite these we believe EM offers an abundance of structural growth opportunities.
Headwinds or tailwinds
As we move into 2020, some of the headwinds faced by EM investors have the potential to turn into tailwinds. However some volatility is set to persist so selectivity remains of utmost importance to navigate the asset class.
China's unprecedented growth
In 1978, China started on a path of unprecedented economic change, shifting the country's economic centre from agriculture to manufacturing and services. The speed of this change has seen the country leapfrog its western peers in areas such as transport and mobile payments.
Understanding what drives returns matters
The returns we can expect to derive from a stock can essentially be broken down into two factors and it's important for investors to be aware of this. Let's look at Argentina as an example.
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.
1Management costs are current as at the date of publication of this website. These fees may be subject to change in the future.
2Total 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.
Why this fund
One trade gives you access to a actively managed portfolio of 30-50 carefully selected companies.
We have 50 on-the-ground analysts and 20 years' investing experience in emerging markets.
Access the growth story of emerging markets, with a manager focused on mitigating risk.
Meet Alex Duffy
Alex Duffy, Portfolio Manager of the Fidelity Global Emerging Markets Fund outlines how he approaches investing and why emerging markets are so unique.
Related insights
Five reason to be positive about EM
Investors are weighing up what 2020 may bring for emerging markets (EM). Like the years that went before, 2019 was not short of headlines but despite these we believe EM offers an abundance of structural growth opportunities.
Headwinds or tailwinds
As we move into 2020, some of the headwinds faced by EM investors have the potential to turn into tailwinds. However some volatility is set to persist so selectivity remains of utmost importance to navigate the asset class.
China's unprecedented growth
In 1978, China started on a path of unprecedented economic change, shifting the country's economic centre from agriculture to manufacturing and services. The speed of this change has seen the country leapfrog its western peers in areas such as transport and mobile payments.
Understanding what drives returns matters
The returns we can expect to derive from a stock can essentially be broken down into two factors and it's important for investors to be aware of this. Let's look at Argentina as an example.
Past insights from Alex
Awards6
Fidelity International has won two categories at the 2019 Zenith Fund Award - International equities – emerging markets & regional and Australian equities - small cap. Fidelity was also a finalist for Fund Manager of the Year.
The annual awards were held in Sydney on 11 October 2019. The award points to the skill and expertise of Fidelity’s investment team across Fidelity’s Future Leaders Fund, Asia Fund, and Global Emerging Markets Fund. It is awarded in the name of Fidelity rather than to a specific fund.
The Zenith Fund Awards were issued 11 October 2019 by Zenith Investment Partners (ABN 27 130 132 672, AFSL 226872) and are determined using proprietary methodologies. The Fund Awards are solely statements of opinion and do not represent recommendations to purchase, hold or sell any securities or make any other investment decisions. To the extent that the Fund Awards constitutes advice, it is General Advice for Wholesale clients only without taking into consideration the objectives, financial situation or needs of any specific person. Investors should seek their own independent financial advice before making any investment decision and should consider the appropriateness of any advice. Investors should obtain a copy of and consider any relevant PDS or offer document before making any investment decisions. Past performance is not an indication of future performance. Fund Awards are current for 12months from the date awarded and are subject to change at any time. Fund Awards for previous years are referenced for historical purposes only.
Fund downloads
- The case for investing emerging markets
- Distribution Reinvestment Plan (DRP)(82.73KB)
- Infographic: Global Emerging Markets
- Product Disclosure Statement(182.60KB)
- Quarterly top 10 holdings(474.02KB)
- Active ETF Product distinctions flyer(136.02KB)
- Fund Flyer(647.85KB)
- Quarterly fund fact sheet(88.42KB)
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.
1Management costs are current as at the date of publication of this website. These fees may be subject to change in the future.
2Total 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.