IN BRIEF: Fidelity Emerging Markets NAV down; outlook uncertain
7th Oct 2022 19:51
Fidelity Emerging Markets Ltd - long-term capital growth from exposure to emerging market companies - In the year ended June 30, swings to a pretax loss of USD501.5 million from a profit of USD493.3 million the previous year. Reports a net loss on investment of USD530.0 million, swinging from a gain of USD482.9 million the year prior. At June 30, net asset value per participating preference share is USD8.75, down from USD13.99 at the same time a year prior. Cites Russia's invasion of Ukraine as the most significant factor in the poor performance of emerging markets. Adds that the outlook for emerging markets remains uncertain. Read More