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IN BRIEF: Fidelity Emerging Markets lags behind interim benchmark

1st Mar 2022 21:17

Fidelity Emerging Markets Ltd - long-term capital growth from exposure to emerging market companies - For the six months ended December 31, net asset value negative return is 9.3%, lagging behind the MSCI Emerging Markets Index, which makes a negative return of 7.4%.

As at December 31, net asset value per participating preference share drops 11% at USD12.45 from USD13.99 at the end of June 30.

"Amid the volatility, opportunity emerges to acquire good quality businesses at particularly attractive valuations. It is not the first and will not be the last time that geopolitical tensions have impacted on short term performance of emerging markets in general and Russia in particular. The board is confident that the team at Fidelity has the necessary experience to navigate these turbulent waters and we believe that despite undeniable short term uncertainty the long term case for investing in emerging markets remains strong," said Chair Helene Ploix.

Current stock price: 674.76 pence, down 5.2% at Tuesday

12-month change: down 24%

By Dayo Laniyan; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

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