15th Nov 2013 14:07
LONDON (Alliance News) - Genesis Emerging Markets Fund Ltd Friday said it underperformed against its benchmark over the third quarter, as its net asset value per share fell 1.1% compared to a 0.8% fall in the MSCI EM Index.
The company's NAV per share fell to 555.33p on 30th September 2013, from 561.31 pence on June 30.
"The [IMF's] aggregate 2013 GDP growth forecast for emerging markets has come down since April's report from 5.3% to 4.5%, while developed market growth was maintained at 1.2%. In aggregate the outlook remains for faster growth than in developed markets, but a little lower than in recent years," Genesis Emerging Markets Fund said in a statement.
Shares in the fund were Friday quoted at 522.50 pence, up 0.6%.
By Samuel Agini; [email protected]; @samuelagini
Copyright © 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
GSS.L