The Fidelity Global Emerging Markets Fund is available as an Unlisted Fund or ASX Quoted Fund.
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 performance2
Net returns as at 31 May 2019
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | 8.63 | -0.29 | 8.92 |
| 3 yr % pa | 14.12 | 11.52 | 2.60 |
| 5 yr % pa | 10.90 | 7.97 | 2.93 |
| Since inception (16/12/13) % pa | 10.00 | 7.44 | 2.56 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (16/12/13) % pa |
|---|---|---|---|---|
| Fund | 8.63 | 14.12 | 10.90 | 10.00 |
| Benchmark | -0.29 | 11.52 | 7.97 | 7.44 |
| Active return | 8.92 | 2.60 | 2.93 | 2.56 |
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 return of capital is not guaranteed. Benchmark: MSCI Emerging Markets Index NR. 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.
The chart below represents the value now of $10,000 invested in the Fidelity Global Emerging Markets Fund in December 2013 compared with $10,000 invested in the MSCI Emerging Markets Index NR.
Chart as at: 31 May 2019
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 return of capital is not guaranteed. Benchmark: MSCI Emerging Markets Index NR. 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 as at 31 May 2019
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | 8.63 | 8.3 | 0.33 |
| 3 yr % pa | 14.12 | 13.02 | 1.1 |
| 5 yr % pa | 10.9 | 10.04 | 0.86 |
| Since inception (16/12/13) % pa | 10 | 9.21 | 0.79 |
| 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (16/12/13) % pa |
|
|---|---|---|---|---|
| Total return | 8.63 | 14.12 | 10.9 | 10 |
| Growth | 8.3 | 13.02 | 10.04 | 9.21 |
| Income | 0.33 | 1.1 | 0.86 | 0.79 |
Growth return is the unit price movement on exit to exit basis. Income is expressed as Total Return less growth component.
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 return of capital is not guaranteed. Benchmark: MSCI Emerging Markets Index NR. 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, holdings and distributions
As at 31 May 2019
As at 31 May 2019
| % total net assets | |
|---|---|
| AIA GROUP LTD | 5.3% |
| BANK CENTRAL ASIA TBK PT | 5.3% |
| HDFC BANK LTD | 5.1% |
| HOUSING DEV FINANCE CORP LTD | 5.0% |
| TAIWAN SEMICONDUCTR MFG CO LTD | 4.9% |
| LOJAS RENNER SA | 3.5% |
| LI NING CO LTD | 3.5% |
| TATA CONSULTANCY SERVICES LTD | 3.4% |
| FOSHAN HAITIAN FLAVOURING & FOOD COMPANY LTD | 3.3% |
| MOL HUNGARIAN OIL AND GAS PLC | 3.2% |
As at 31 May 2019
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| AIA GROUP LTD | 5.3 | 0.0 | 5.3 |
| HDFC BANK LTD | 5.1 | 0.0 | 5.1 |
| BANK CENTRAL ASIA TBK PT | 5.3 | 0.4 | 4.9 |
| HOUSING DEV FINANCE CORP LTD | 5.0 | 1.0 | 4.0 |
| LI NING CO LTD | 3.5 | 0.1 | 3.4 |
As at 31 May 2019
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| ALIBABA GROUP HOLDING LTD | 0.0 | 4.1 | - 4.1 |
| TENCENT HLDGS LTD | 2.1 | 4.5 | - 2.4 |
| NASPERS LTD | 0.0 | 1.9 | - 1.9 |
| CHINA CONSTRUCTION BANK | 0.0 | 1.5 | - 1.5 |
| PING AN INS GROUP CO CHINA LTD | 0.0 | 1.3 | - 1.3 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 30-Jun-18 | 4.440000 | $14.7623 |
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.
Fund downloads
- The case for emerging markets(465.70KB)
- Product Disclosure Statement(146.81KB)
- Fund flyer(154.55KB)
- Fee disclosure statement(71.12KB)
- Monthly fund fact sheet(91.44KB)
- Application form(962.70KB)
- Quarterly fund fact sheet(99.25KB)
- Additional information(76.67KB)
Fund ratings3
| Organisation | Rating / Recommendation |
|---|---|
| Lonsec |
Rated4
The Lonsec Report is only available to financial advisers, please contact us for a copy.
|
| Morningstar | Bronze5 |
| Zenith | Recommended6 |
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 May 2019
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 mth % | -2.66 | -5.78 | 3.12 |
| 3 mth % | 4.47 | -1.95 | 6.42 |
| 6 mth % | 13.65 | 6.80 | 6.85 |
| Since inception (29/10/18) % pa | 18.84 | 10.15 | 8.69 |
| Timeframe | 1 mth % |
3 mth % |
6 mth % |
Since inception (29/10/18) % pa |
|---|---|---|---|---|
| Fund | -2.66 | 4.47 | 13.65 | 18.84 |
| Benchmark | -5.78 | -1.95 | 6.80 | 10.15 |
| Active return | 3.12 | 6.42 | 6.85 | 8.69 |
Sectors and holdings
As at 31 May 2019
As at 31 May 2019
| % total net assets | |
|---|---|
| AIA GROUP LTD | 5.4% |
| BANK CENTRAL ASIA TBK PT | 5.3% |
| HDFC BANK LTD | 5.2% |
| HOUSING DEV FINANCE CORP LTD | 5.0% |
| TAIWAN SEMICONDUCTR MFG CO LTD | 4.9% |
| FOSHAN HAITIAN FLAVOURING & FOOD COMPANY LTD | 3.5% |
| LOJAS RENNER SA | 3.5% |
| LI NING CO LTD | 3.5% |
| TATA CONSULTANCY SERVICES LTD | 3.4% |
| MOL HUNGARIAN OIL AND GAS PLC | 3.2% |
Distributions and ASX Announcements
Fidelity Global Emerging Markets Fund (ASX:FEMX) distribution timetable.
The first distribution period for this fund will be 30 June 2019.
Related insights
From the desk of Alex Duffy - The China challenge
In broad terms China is a perennial, but what’s captured the attention of many investors in recent times has been the announcement by MSCI to continue to increase the weighting of the China A Share market in 2019 in the MSCI Emerging Markets Index.
The future is bright
As a business we’re often asked about India and why investors should consider allocating either through a stand-alone allocation or exposure through an emerging markets portfolio. On one hand investing in one of the world’s fastest growing economies sounds sensible but equally investors have concerns around volatility and risk, particularly macro risks. So, let’s take a closer look at the case for India.
The biggest election the world has ever seen
The last three years have raised questions about the health of the UK's parliamentary democracy, but the system that was created in its image in India has surprised everyone with its resilience and longevity. This week, 900m voters will take part in what will be the biggest election the world has ever seen.
Emerging markets - worth another look
Fidelity recently launched our first active ETF. Managing Director Alva Devoy speaks to Portfolio Manager Alex Duffy about his approach to investing and why Australians should consider an allocation to emerging markets.
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 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.
Related insights
On the move: ETF special report
Australia's active ETF ecosystem has all the right ingredients. Yet there are still challenges to tackle before we can harvest the benefits. Key decision makers in the industry look at what it will take for active ETFs to win big.
From the desk of Alex Duffy - The China challenge
In broad terms China is a perennial, but what’s captured the attention of many investors in recent times has been the announcement by MSCI to continue to increase the weighting of the China A Share market in 2019 in the MSCI Emerging Markets Index.
Why Active ETFs continue to shine
Until the first Active ETFs were launched in 2015, the choice to invest in an ETF was a decision to invest in a passive investment solution, but this is no longer the case. While more choice can only be a good thing, helping investors to understand the benefits and limitations of the different structures will be important in helping them to meet their investment objectives.
The future is bright
As a business we’re often asked about India and why investors should consider allocating either through a stand-alone allocation or exposure through an emerging markets portfolio. On one hand investing in one of the world’s fastest growing economies sounds sensible but equally investors have concerns around volatility and risk, particularly macro risks. So, let’s take a closer look at the case for India.
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 mid prices and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax or the buy/sell spread. Returns of more than one year are annualised. The return of capital is not guaranteed.
Why this fund
Access to a prudent, focused investment process designed to provide investors with attractive returns over time.
A strong track record backed by more than 20 years' experience investing in emerging markets, informed by over 50 on-the-ground analysts.
A concentrated portfolio with low turnover and a patient approach which allows opportunities time to come to fruition.
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
On the move: ETF special report
Australia's active ETF ecosystem has all the right ingredients. Yet there are still challenges to tackle before we can harvest the benefits. Key decision makers in the industry look at what it will take for active ETFs to win big.
From the desk of Alex Duffy - The China challenge
In broad terms China is a perennial, but what’s captured the attention of many investors in recent times has been the announcement by MSCI to continue to increase the weighting of the China A Share market in 2019 in the MSCI Emerging Markets Index.
Why Active ETFs continue to shine
Until the first Active ETFs were launched in 2015, the choice to invest in an ETF was a decision to invest in a passive investment solution, but this is no longer the case. While more choice can only be a good thing, helping investors to understand the benefits and limitations of the different structures will be important in helping them to meet their investment objectives.
The future is bright
As a business we’re often asked about India and why investors should consider allocating either through a stand-alone allocation or exposure through an emerging markets portfolio. On one hand investing in one of the world’s fastest growing economies sounds sensible but equally investors have concerns around volatility and risk, particularly macro risks. So, let’s take a closer look at the case for India.
Thank you. You have been subscribed and will receive a confirmation email shortly.
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 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.
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 mid prices and are net of Fidelity’s management costs, transactional and operational costs and assumes reinvestment of distributions. No allowance has been made for tax or the buy/sell spread. Returns of more than one year are annualised. The return of capital is not guaranteed.