Fidelity Global Emerging Markets Fund
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Fidelity Global Emerging Markets Fund

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

About this fund
Unit prices (at 29/07/21) Buy 23.5756 / Sell 23.3877 Unit price history
Buy/sell spread 0.40%/0.40%
Management costs1 0.99% p.a. Fee disclosure document
Fund size (at 29/07/21) A$635.35M
Inception date 16 December 2013
Distribution frequency Annually
Currency Australian dollar
Benchmark MSCI Emerging Markets Index NR
About the manager
Portfolio manager Amit Goel / Punam Sharma
Appointed to fund 28 May 2021
Location Singapore / London
Joined Fidelity 2006 / 2016
Unique identifiers
APIR code FID0031AU
ARSN code 165837150
mFund code FIL31

Fund performance2

Net returns as at 30 June 2021

Timeframe Fund Benchmark Active return
1 yr % 37.06 29.22 7.84
3 yr % pa 17.88 10.68 7.20
5 yr % pa 17.12 12.84 4.28
7 yr % pa 13.87 9.89 3.98
Since inception (16/12/13) % pa 13.02 9.44 3.58
Timeframe 1 yr
%
3 yr
% pa
5 yr
% pa
7 yr
% pa
Since inception
(16/12/13) % pa
Fund 37.06 17.88 17.12 13.87 13.02
Benchmark 29.22 10.68 12.84 9.89 9.44
Active return 7.84 7.20 4.28 3.98 3.58

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. 

    Fidelity Global Emerging Markets Fund
    0
    MSCI Emerging Markets Index NR
    0

    Chart as at: 30 June 2021

    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 30 June 2021

    Total return Growth Income
    1 yr % 37.06 36.18 0.88
    3 yr % pa 17.88 17.09 0.79
    5 yr % pa 17.12 16.04 1.08
    7 yr % pa 13.87 12.96 0.91
    Since inception (16/12/13) % pa 13.02 12.18 0.84
    1 yr
    %
    3 yr
    % pa
    5 yr
    % pa
    7 yr
    % pa
    Since inception
    (16/12/13) % pa
    Total return 37.06 17.88 17.12 13.87 13.02
    Growth 36.18 17.09 16.04 12.96 12.18
    Income 0.88 0.79 1.08 0.91 0.84

    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 30 June 2021

    As at 30 June 2021

    % total net assets
    TAIWAN SEMICONDUCTOR MFG CO LTD 7.1%
    AIA GROUP LTD 4.7%
    HDFC BANK LTD 4.7%
    LI NING CO LTD 4.3%
    CHINA MENGNIU DAIRY CO 4.1%
    SAMSUNG ELECTRONICS CO LTD 3.5%
    NASPERS LTD 3.2%
    BANK CENTRAL ASIA TBK PT 3.2%
    SHENZHOU INTL GROUP HLDGS LTD 3.0%
    TATA CONSULTANCY SERVICES LTD 3.0%

    As at 30 June 2021

    Fund % Benchmark % Relative %
    AIA GROUP LTD 4.7 0.0 4.7
    HDFC BANK LTD 4.7 0.0 4.7
    LI NING CO LTD 4.3 0.3 4.0
    CHINA MENGNIU DAIRY CO 4.1 0.2 3.8
    BANK CENTRAL ASIA TBK PT 3.2 0.3 2.9

    As at 30 June 2021

    Fund % Benchmark % Relative %
    TENCENT HLDGS LTD 2.2 5.0 -2.8
    ALIBABA GROUP HOLDING LTD 2.3 5.0 -2.7
    MEITUAN 0.0 1.7 -1.7
    SAMSUNG ELECTRONICS CO LTD 3.5 4.6 -1.1
    VALE SA 0.0 1.0 -1.0
    Distribution Distribution (CPU) Reinvestment price
    3.7198 $23.7335

    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 ratings3

    Organisation Rating / Recommendation
    Lonsec
    Rated4
    The Lonsec Report is only available to financial advisers, please contact us for a copy.
    Morningstar Neutral5

    Category winner: International Equities - Emerging Markets and Regional6

    2020 Money magazine Best of the Best award7

    Morningstar 2020 Australia Fund Manager of the Year8

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    Related insights

    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. 

    3You 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.

    4The Lonsec Rating (assigned March 2020) 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.

    5© 2021 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 May 2021. 

    6 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 12 months from the date awarded and are subject to change at any time. Fund Awards for previous years are referenced for historical purposes only.

    7 The Fidelity Global Emerging Markets Fund has been awarded the 2020 Money magazine Best of the Best award for International Equities Emerging Markets.

    8 Morningstar Awards 2020 ©. Morningstar, Inc. All Rights Reserved. Awarded to Fidelity International for Morningstar 2020 Australia Fund Manager of the Year.

    Money magazine selected funds with the highest ratings from Morningstar, Zenith and Lonsec and with a minimum investment amount of $25,000 or less for the category. Funds were then ranked according to their rating by each research house. Research house ratings were then combined with a further filtering process to determine the winner.

    Why this fund

    Access to a prudent, focused investment process designed to provide investors with attractive returns over time, while minimising loss of capital.

    Forty-seven analysts on the ground in emerging markets, including China and India, means we understand local businesses and markets

    A concentrated portfolio with low turnover and a patient approach, which allows opportunities time to come to fruition.

    Meet Amit Goel

    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.

    More insights

    The rise and rise of emerging markets

    Emerging market countries are home to some of the world's fastest growing economies and innovative companies.

    Related insights

    Awards6

    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. 

    3You 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.

    4The Lonsec Rating (assigned March 2020) 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.

    5© 2021 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 May 2021. 

    6 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 12 months from the date awarded and are subject to change at any time. Fund Awards for previous years are referenced for historical purposes only.

    7 The Fidelity Global Emerging Markets Fund has been awarded the 2020 Money magazine Best of the Best award for International Equities Emerging Markets.

    8 Morningstar Awards 2020 ©. Morningstar, Inc. All Rights Reserved. Awarded to Fidelity International for Morningstar 2020 Australia Fund Manager of the Year.

    Money magazine selected funds with the highest ratings from Morningstar, Zenith and Lonsec and with a minimum investment amount of $25,000 or less for the category. Funds were then ranked according to their rating by each research house. Research house ratings were then combined with a further filtering process to determine the winner.