Emerging market equities have rallied more than a fifth from their October trough as easing global inflation and hopes the US central bank will soon slow its interest rate rises prompt investors to shift in to the asset class.
The MSCI Emerging Markets index has risen more than 21 per cent from its intraday low on October 25, according to Refinitiv data. Typically a rise of 20 per cent from a recent low is considered a bull market.
The more upbeat recent run comes after a painful stretch between February 2021 and late October last year, when the MSCI EM index tumbled more than 40 per cent.
Fidelity Emerging Markets Limited (LON:FEML) is an investment trust that aims to achieve long-term capital growth from an actively managed portfolio made up primarily of securities and financial instruments providing exposure to emerging markets companies, both listed and unlisted.