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
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 January 2019
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | -0.89 | -4.76 | 3.87 |
| 3 yr % pa | 13.03 | 13.73 | -0.70 |
| 5 yr % pa | 9.65 | 8.60 | 1.05 |
| Since inception (16/12/13) % pa | 8.89 | 7.79 | 1.10 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (16/12/13) % pa |
|---|---|---|---|---|
| Fund | -0.89 | 13.03 | 9.65 | 8.89 |
| Benchmark | -4.76 | 13.73 | 8.60 | 7.79 |
| Active return | 3.87 | -0.70 | 1.05 | 1.10 |
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 January 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 January 2019
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | -0.89 | -1.18 | 0.29 |
| 3 yr % pa | 13.03 | 11.94 | 1.09 |
| 5 yr % pa | 9.65 | 8.8 | 0.85 |
| Since inception (16/12/13) % pa | 8.89 | 8.06 | 0.83 |
| 1 yr % |
3 yr % pa |
5 yr % pa |
Since inception (16/12/13) % pa |
|
|---|---|---|---|---|
| Total return | -0.89 | 13.03 | 9.65 | 8.89 |
| Growth | -1.18 | 11.94 | 8.8 | 8.06 |
| Income | 0.29 | 1.09 | 0.85 | 0.83 |
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.
Fund performance2
Net returns as at 31 January 2019
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 mth % | 3.40 | 5.02 | -1.62 |
| 3 mth % | 7.41 | 7.15 | 0.26 |
| 6 mth % | - | - | - |
| Since inception (29/10/18) % pa | 9.46 | 9.36 | 0.10 |
| Timeframe | 1 mth % |
3 mth % |
6 mth % |
Since inception (29/10/18) % pa |
|---|---|---|---|---|
| Fund | 3.40 | 7.41 | - | 9.46 |
| Benchmark | 5.02 | 7.15 | - | 9.36 |
| Active return | -1.62 | 0.26 | - | 0.10 |
Sectors, holdings and distributions
As at 31 December 2018
As at 31 December 2018
| % total net assets | |
|---|---|
| AIA GROUP LTD | 5.5% |
| TAIWAN SEMICONDUCTR MFG CO LTD | 5.2% |
| BANK CENTRAL ASIA TBK PT | 4.8% |
| HDFC BANK LTD | 4.5% |
| HOUSING DEV FINANCE CORP LTD | 4.3% |
| LI NING CO LTD | 3.1% |
| ZHEJIANG SUPOR COOKWARE CO LTD | 3.0% |
| TATA CONSULTANCY SERVICES LTD | 3.0% |
| TECHTRONIC INDUSTRIES CO LTD | 2.9% |
| AVI LTD | 2.8% |
As at 31 December 2018
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| AIA GROUP LTD | 5.5 | 0.0 | 5.5 |
| HDFC BANK LTD | 4.5 | 0.0 | 4.5 |
| BANK CENTRAL ASIA TBK PT | 4.8 | 0.4 | 4.4 |
| HOUSING DEV FINANCE CORP LTD | 4.3 | 0.9 | 3.4 |
| LI NING CO LTD | 3.1 | 0.0 | 3.1 |
As at 31 December 2018
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| ALIBABA GROUP HOLDING LTD | 0.0 | 3.7 | - 3.7 |
| TENCENT HLDGS LTD | 2.0 | 4.8 | - 2.7 |
| NASPERS LTD | 0.0 | 1.8 | - 1.8 |
| CHINA CONSTRUCTION BANK | 0.0 | 1.7 | - 1.7 |
| SAMSUNG ELECTRONICS CO LTD | 2.5 | 4.0 | - 1.4 |
| 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.
Sectors and holdings
As at 31 December 2018
As at 31 December 2018
| % total net assets | |
|---|---|
| AIA GROUP LTD | 5.6% |
| TAIWAN SEMICONDUCTR MFG CO LTD | 5.3% |
| BANK CENTRAL ASIA TBK PT | 4.8% |
| HDFC BANK LTD | 4.5% |
| HOUSING DEV FINANCE CORP LTD | 4.3% |
| LI NING CO LTD | 3.1% |
| TATA CONSULTANCY SERVICES LTD | 3.0% |
| ZHEJIANG SUPOR COOKWARE CO LTD | 3.0% |
| TECHTRONIC INDUSTRIES CO LTD | 2.9% |
| AVI LTD | 2.8% |
Distributions and ASX Announcements
Fidelity Global Emerging Markets Fund (Managed Fund) (ASX:FEMX) distribution timetable.
The first distribution period for this fund will be 30 June 2019.
Fund downloads
- The case for emerging markets(465.70KB)
- Fund flyer(154.55KB)
- Monthly fund fact sheet(92.08KB)
- Quarterly fund fact sheet(98.78KB)
- Product Disclosure Statement(146.81KB)
- Application form(962.70KB)
- Fee disclosure statement(71.12KB)
- Additional information(76.67KB)
Fund downloads
Fund ratings3
| Organisation | Rating / Recommendation |
|---|---|
| Lonsec |
Rated4
The Lonsec Report is only available to financial advisers, please contact us for a copy.
|
| Zenith | Recommended5 |
Related insights
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.
India's interim budget on expected lines
The Modi government last week announced their interim Union Budget. As expected, the focus was on farmers and the middle class ahead of the national elections scheduled later this year...
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2019 outlook: Emerging Markets
Although we see volatility continuing, we expect a positive return for emerging market equities next year, with potentially greater dispersion of returns across regions than we have seen in the last 3-5 years.
Related insights
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.
India's interim budget on expected lines
The Modi government last week announced their interim Union Budget. As expected, the focus was on farmers and the middle class ahead of the national elections scheduled later this year...
Trade tariffs: assessing the real impact
Tariffs themselves aren’t the most important factor in the trade dispute between the US and China. Instead, investors in emerging markets should watch for secondary effects that the tariffs might have on China’s balance of payments position, which could in turn put pressure on the currency.
2019 outlook: Emerging Markets
Although we see volatility continuing, we expect a positive return for emerging market equities next year, with potentially greater dispersion of returns across regions than we have seen in the last 3-5 years.
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.
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
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.
India's interim budget on expected lines
The Modi government last week announced their interim Union Budget. As expected, the focus was on farmers and the middle class ahead of the national elections scheduled later this year...
Trade tariffs: assessing the real impact
Tariffs themselves aren’t the most important factor in the trade dispute between the US and China. Instead, investors in emerging markets should watch for secondary effects that the tariffs might have on China’s balance of payments position, which could in turn put pressure on the currency.
2019 outlook: Emerging Markets
Although we see volatility continuing, we expect a positive return for emerging market equities next year, with potentially greater dispersion of returns across regions than we have seen in the last 3-5 years.
Related insights
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.
India's interim budget on expected lines
The Modi government last week announced their interim Union Budget. As expected, the focus was on farmers and the middle class ahead of the national elections scheduled later this year...
Trade tariffs: assessing the real impact
Tariffs themselves aren’t the most important factor in the trade dispute between the US and China. Instead, investors in emerging markets should watch for secondary effects that the tariffs might have on China’s balance of payments position, which could in turn put pressure on the currency.
2019 outlook: Emerging Markets
Although we see volatility continuing, we expect a positive return for emerging market equities next year, with potentially greater dispersion of returns across regions than we have seen in the last 3-5 years.
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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.
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.