Fidelity Funds Emerging Markets A USD

  • 2597.67p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 5.25% 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.50%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.99%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.10%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 19 October 2020

The fund aims to achieve long-term capital growth by investing in a portfolio of large and mid-cap emerging markets equities. Manager Nick Price forms the portfolio from the best ideas of Fidelity’s three regional emerging market portfolios (Asia, EMEA and Latin America). He is unconstrained by any benchmark, instead focusing on company fundamentals and bottom-up stock selection to target high quality companies that he believes are capable of delivering sustainable returns over the medium term.

Fund summary

Sector Global Emerging Markets
Structure OFFSHORE FUND
Launched
Size £3,966m
Yield 0.10%
Charging basis Income
Dividends paid Aug

Charges

Standard initial charge 5.25%
Initial charge via Bestinvest 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.99%

Allocation

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Investment process

Stocks are researched by Fidelity’s emerging markets analysts based around the globe, who rate them from 1 (strong buy) to 5 (strong sell). Fidelity’s emerging markets fund managers use the highest conviction stocks to construct concentrated regional equity portfolios for each of the three main regions of the GEM universe - Latin America, EMEA and Emerging Asia. Holdings from these portfolios form the pool of ideas from which Nick Price selects for the Fidelity Emerging Markets fund. He favours companies with strong market positions and competitive advantages, as these are typically able to deliver attractive earnings throughout the economic cycle. He also looks for companies that deliver superior returns on their assets and have well capitalised balance sheets. Such companies are usually more able to fund internal growth without diluting existing shareholder earnings through issuing new shares. The manager and the team analyse each stock for quality, consistency of returns and attractive valuation, being the primary drivers of portfolio construction. Risk is monitored on both the individual stock and portfolio levels.

Nick Price is an experienced emerging markets equities manager, having been running money in the space for over more than a decade and running this fund since 2010. He is an accountant by background and scrutinises companies’ balance sheets rigorously, which we believe is helpful in selecting the better quality companies that he favours. Historically these companies have enabled the fund to deliver a more defensive performance profile, often providing a degree of protection in falling markets. The approach is team-based with members having over 17 years experience on average.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

Periods of worst performance

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Relative 0.00% ()

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Sector breakdown

Consumer Discretionary 30.00%
Information Technology 20.00%
Financials 20.00%
Consumer Staples 10.00%
Industrials 6.00%
Materials 6.00%
Communications 5.00%
Money Market 3.00%
Health Care 1.00%

Portfolio

Holdings range c.50-100.

Key Investor Information

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