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 medium to long term.
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 December 2021
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | 12.25 | 3.44 | 8.81 |
| 3 yr % pa | 19.36 | 9.76 | 9.60 |
| 5 yr % pa | 16.62 | 9.79 | 6.83 |
| 7 yr % pa | 12.71 | 7.92 | 4.79 |
| Since inception (16/12/13) % pa | 12.33 | 7.94 | 4.39 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
Since inception (16/12/13) % pa |
|---|---|---|---|---|---|
| Fund | 12.25 | 19.36 | 16.62 | 12.71 | 12.33 |
| Benchmark | 3.44 | 9.76 | 9.79 | 7.92 | 7.94 |
| Active return | 8.81 | 9.60 | 6.83 | 4.79 | 4.39 |
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 December 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 31 December 2021
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | 12.25 | 12.08 | 0.17 |
| 3 yr % pa | 19.36 | 18.62 | 0.74 |
| 5 yr % pa | 16.62 | 15.84 | 0.78 |
| 7 yr % pa | 12.71 | 11.82 | 0.89 |
| Since inception (16/12/13) % pa | 12.33 | 11.53 | 0.8 |
| 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
Since inception (16/12/13) % pa |
|
|---|---|---|---|---|---|
| Total return | 12.25 | 19.36 | 16.62 | 12.71 | 12.33 |
| Growth | 12.08 | 18.62 | 15.84 | 11.82 | 11.53 |
| Income | 0.17 | 0.74 | 0.78 | 0.89 | 0.8 |
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 December 2021
As at 31 December 2021
| % total net assets | |
|---|---|
| TAIWAN SEMICONDUCTOR MFG CO LTD | 7.9% |
| HDFC BANK LTD | 4.7% |
| CHINA MENGNIU DAIRY CO | 4.1% |
| AIA GROUP LTD | 4.0% |
| MEDIATEK INC | 3.9% |
| INFOSYS LTD | 3.7% |
| LI NING CO LTD | 3.5% |
| BANK CENTRAL ASIA TBK PT | 3.4% |
| SAMSUNG ELECTRONICS CO LTD | 3.2% |
| MIDEA GROUP CO LTD | 2.9% |
As at 31 December 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| HDFC BANK LTD | 4.7 | 0.0 | 4.7 |
| AIA GROUP LTD | 4.0 | 0.0 | 4.0 |
| CHINA MENGNIU DAIRY CO | 4.1 | 0.2 | 3.8 |
| LI NING CO LTD | 3.5 | 0.3 | 3.2 |
| MEDIATEK INC | 3.9 | 0.8 | 3.1 |
As at 31 December 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| TENCENT HLDGS LTD | 1.2 | 4.3 | -3.1 |
| ALIBABA GROUP HOLDING LTD | 1.4 | 2.9 | -1.5 |
| MEITUAN | 0.0 | 1.5 | -1.5 |
| SAMSUNG ELECTRONICS CO LTD | 3.2 | 4.6 | -1.4 |
| RELIANCE INDUSTRIES LTD | 0.0 | 1.2 | -1.2 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 30-Jun-21 | 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 downloads
- Additional Information
- Quarterly top 10 holdings(845.42KB)
- Infographic: Global emerging markets(319.5KB)
- The case for emerging markets(759.11KB)
- Product Disclosure Statement(1.93MB)
- Fund flyer(555.04KB)
- Application form(630.38KB)
- Fund fact sheet(81.65KB)
- Target Market Determination (TMD)
Fund ratings3
| Organisation | Rating / Recommendation |
|---|---|
| Lonsec |
Investment Grade4
The Lonsec Report is only available to financial advisers, please contact us for a copy.
|
| Morningstar | Neutral5 |
| Zenith | Approved6 |
Category winner: International Equities - Emerging Markets and Regional6
2022 Money magazine Best of the Best award7
Morningstar 2020 Australia Fund Manager of the Year8
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2022 Outlook: Emerging Markets
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The Investor's Guide to China: Demographics
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To say China’s stock market has disappointed this year is something of an understatement. High commodity prices, chip shortages, a slump in the property market, widespread floods and a partial port shutdown have combined to depress activity. However, we are seeing signs that these are no more than sideshows to the main event – the growth currently being achieved by the economy, and the growth yet to come.
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.
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.
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Against a backdrop of the ongoing pandemic, tighter regulation in China, and the prospect of reduced policy support from global central banks, 2021 has not been without its risks. However, as we look to the new year, we see opportunities for careful, bottom-up stock pickers in a wide range of industries across Asia
2022 Outlook: Emerging Markets
It is hard to predict how markets will behave in a year’s time. Still, we believe that most emerging economies' underlying structural growth trends will continue to drive corporate earnings and returns for investors over the medium-to-long term. While we remain aware of what is happening on the macroeconomic and political fronts, we will stay focused on the companies we either own or want to include in the strategy to drive alpha for our investors.
The Investor's Guide to China: Demographics
China’s labour pool is shrinking as the population ages and more people retire than enter the workforce. How people save and invest as they think about wealth preservation signals big challenges and opportunities for China’s pension system development. So, how will government policy seek to ensure that the corporate sector remains dynamic and innovative, and can keep attracting the talent it needs?
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To say China’s stock market has disappointed this year is something of an understatement. High commodity prices, chip shortages, a slump in the property market, widespread floods and a partial port shutdown have combined to depress activity. However, we are seeing signs that these are no more than sideshows to the main event – the growth currently being achieved by the economy, and the growth yet to come.
Awards6
The Fidelity Global Emerging Markets Fund won the Money Management Fund Manager of the Year - Global Emerging Market Equities - Winner - 20203 at the annual awards on 30 July 2020.
The awards use a combination of FE fundinfo’s quantitative fund data with the expertise of Money Management’s recognised research partners, Lonsec, Mercer, SQM Research and industry partner, IOOF to select winners.
Fidelity International has won two categories at the 2019 Zenith Fund Award - International equities – emerging markets & regional and Australian equities - small cap5. 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.
Fund downloads
- Additional Information
- Quarterly top 10 holdings(845.42KB)
- Infographic: Global emerging markets(319.5KB)
- The case for emerging markets(759.11KB)
- Product Disclosure Statement(1.93MB)
- Fund flyer(555.04KB)
- Application form(630.38KB)
- Fund fact sheet(81.65KB)
- Target Market Determination (TMD)
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.