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 March 2021
| Timeframe | Fund | Benchmark | Active return |
|---|---|---|---|
| 1 yr % | 38.02 | 27.28 | 10.74 |
| 3 yr % pa | 14.68 | 6.73 | 7.95 |
| 5 yr % pa | 16.86 | 12.29 | 4.57 |
| 7 yr % pa | 13.58 | 9.61 | 3.97 |
| Since inception (16/12/13) % pa | 12.53 | 8.83 | 3.70 |
| Timeframe | 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
Since inception (16/12/13) % pa |
|---|---|---|---|---|---|
| Fund | 38.02 | 14.68 | 16.86 | 13.58 | 12.53 |
| Benchmark | 27.28 | 6.73 | 12.29 | 9.61 | 8.83 |
| Active return | 10.74 | 7.95 | 4.57 | 3.97 | 3.70 |
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 March 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 March 2021
| Total return | Growth | Income | |
|---|---|---|---|
| 1 yr % | 38.02 | 37.13 | 0.89 |
| 3 yr % pa | 14.68 | 13.92 | 0.76 |
| 5 yr % pa | 16.86 | 15.79 | 1.07 |
| 7 yr % pa | 13.58 | 12.67 | 0.91 |
| Since inception (16/12/13) % pa | 12.53 | 11.67 | 0.86 |
| 1 yr % |
3 yr % pa |
5 yr % pa |
7 yr % pa |
Since inception (16/12/13) % pa |
|
|---|---|---|---|---|---|
| Total return | 38.02 | 14.68 | 16.86 | 13.58 | 12.53 |
| Growth | 37.13 | 13.92 | 15.79 | 12.67 | 11.67 |
| Income | 0.89 | 0.76 | 1.07 | 0.91 | 0.86 |
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 28 February 2021
As at 28 February 2021
| % total net assets | |
|---|---|
| TAIWAN SEMICONDUCTOR MFG CO LTD | 5.8% |
| HDFC BANK LTD | 5.2% |
| AIA GROUP LTD | 4.8% |
| BANK CENTRAL ASIA TBK PT | 3.8% |
| SAMSUNG ELECTRONICS CO LTD | 3.8% |
| NASPERS LTD | 3.7% |
| MEDIATEK INC | 3.4% |
| SOUTHERN COPPER CORP DEL | 3.3% |
| TATA CONSULTANCY SERVICES LTD | 3.2% |
| ADVANTECH CO LTD | 3.1% |
As at 28 February 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| HDFC BANK LTD | 5.2 | 0.0 | 5.2 |
| AIA GROUP LTD | 4.8 | 0.0 | 4.8 |
| BANK CENTRAL ASIA TBK PT | 3.8 | 0.3 | 3.5 |
| SOUTHERN COPPER CORP DEL | 3.3 | 0.1 | 3.2 |
| ADVANTECH CO LTD | 3.1 | 0.1 | 3.1 |
As at 28 February 2021
| Fund % | Benchmark % | Relative % | |
|---|---|---|---|
| TENCENT HLDGS LTD | 2.4 | 6.1 | -3.6 |
| ALIBABA GROUP HOLDING LTD | 2.6 | 5.6 | -3.0 |
| MEITUAN | 0.0 | 1.9 | -1.9 |
| SAMSUNG ELECTRONICS CO LTD | 3.8 | 5.0 | -1.2 |
| PING AN INS GROUP CO CHINA LTD | 0.0 | 1.0 | -1.0 |
| Distribution | Distribution (CPU) | Reinvestment price |
|---|---|---|
| 30-Sep-20 | 0.0000 | $0.0000 |
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(859.03KB)
- Infographic: Global emerging markets(318.49KB)
- The case for emerging markets(735.49KB)
- Product Disclosure Statement(113.74KB)
- Fund flyer(484.91KB)
- Application form(653.34KB)
- Fund fact sheet(74.10KB)
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 | Highly Recommended6 |
Category winner: International Equities - Emerging Markets and Regional7
2020 Money magazine Best of the Best award8
Morningstar 2020 Australia Fund Manager of the Year9
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Related insights
The trend that will turbocharge emerging markets
Emerging markets are soaring off the back of the COVID-19 recovery, but there are a few consumer trends that are here to stay. One trend is a cut above the rest. Emerging markets have reached a point of discerning tastes and a hunt for quality and it's this behaviour that will transform the sector.
EM set to stir broader interest
With investment returns from traditional equities and bonds challenged in the current environment, and with many emerging market economies reopening faster than their developed world peers post COVID-19 shutdown, the case for investing in these jurisdictions has never been stronger. But finding the opportunities at a country, sector and individual stock level requires selectivity and time in the market.
Emerging markets and the reopening trade
So far, the global economic recovery from the Covid-19 fallout has been led by developed markets and emerging Asia, spearheaded by China. Looking ahead, we think the catchup trade could ripple out across other emerging markets, driven by the availability of vaccines, the reflationary impulse from China and developed markets, and the lagged impact of monetary easing.
EM poised to benefit from accelerating trends
Emerging markets (EM) have been growing rapidly in recent years. In fact, they now contribute over 50% of global growth and are expected to contribute over 60% by 2022. Once dominated by agriculture and heap manufacturing, EM countries are today home to some of the world’s fastest-growing economies and most innovative companies.
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.
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
The trend that will turbocharge emerging markets
Emerging markets are soaring off the back of the COVID-19 recovery, but there are a few consumer trends that are here to stay. One trend is a cut above the rest. Emerging markets have reached a point of discerning tastes and a hunt for quality and it's this behaviour that will transform the sector.
EM set to stir broader interest
With investment returns from traditional equities and bonds challenged in the current environment, and with many emerging market economies reopening faster than their developed world peers post COVID-19 shutdown, the case for investing in these jurisdictions has never been stronger. But finding the opportunities at a country, sector and individual stock level requires selectivity and time in the market.
Emerging markets and the reopening trade
So far, the global economic recovery from the Covid-19 fallout has been led by developed markets and emerging Asia, spearheaded by China. Looking ahead, we think the catchup trade could ripple out across other emerging markets, driven by the availability of vaccines, the reflationary impulse from China and developed markets, and the lagged impact of monetary easing.
EM poised to benefit from accelerating trends
Emerging markets (EM) have been growing rapidly in recent years. In fact, they now contribute over 50% of global growth and are expected to contribute over 60% by 2022. Once dominated by agriculture and heap manufacturing, EM countries are today home to some of the world’s fastest-growing economies and most innovative companies.
Past insights from Alex
- The China challenge - May 2019(128.90KB)
- From the desk of Alex Duffy - The China challenge(8.68KB)
- Assessing the real impacts - January 2019(237.20KB)
- A comment on portfolio construction - May 2018(79.62KB)
- Opportunities abound: Technology adaption - July 2018(268.32KB)
- The new 'Nifty Fifty'? - August 2017(191.80KB)
Awards6
The Fidelity Future Leaders Fund was awarded the Money Management Fund Manager of the Year - Australian Small/Mid Cap Equities - Highly Commended - 20201 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.
The Fidelity Global Emerging Markets Fund won the Money Management Fund Manager of the Year - Global Emerging Market Equities - Winner - 20201 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 cap4. 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.
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.