Fidelity Emerging Markets (LSE: FEML)

Last close As at 04/11/2024

582.80

3.90 (0.67%)

Market capitalisation

GBP527m

Latest Insights

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Share Price Performance

Price Performance
% 1M 3M 12M
Actual 0.1 (11.1) (8.3)
Relative (4.3) (11.1) (11.2)
52 week high/low 658.0p/555.1p

Overview

Fidelity Emerging Markets (FEML) has been managed by portfolio managers Nick Price and Chris Tennant since October 2021. The portfolio faced a challenging 2022 as emerging markets declined sharply in what was the worst year for the asset class since the global financial crisis. According to Fidelity, valuations now appear attractive, with the MSCI Emerging Market Index trading on a multiple of c 12x P/E at the end of 2022, relative to the MSCI World Index (23 developed markets), which traded on c 17x. The portfolio’s underperformance over the year was driven by its overweight exposure to Russia, although performance started to stabilise towards the end of the period. The managers continue to seek out high-quality companies with strong balance sheets and have looked for opportunities to increase exposure to value-oriented parts of the market on a highly selective basis.

Research

Initiation

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Update

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Review

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Thematics

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