Emerging markets investment trusts: Indian banks enhance FEML gains

Fidelity Emerging Markets Limited (LON:FEML) published its monthly factsheet for the period ended 30th April 2023.

Portfolio Manager Commentary
Emerging markets declined in April and underperformed most developed markets. Investor sentiment was mixed during the period. Positive US employment data and slowing inflation supported markets at the start of April before sentiment declined as relations between the US and China deteriorated. The asset class rallied towards the end of the month after China reported stronger-than-expected exports and the US dollar weakened. Emerging Asia declined, while EMEA and Latin America posted positive returns.

The portfolio outperformed the index over the month, driven by the strong performance of financials names. Core Indian bank holdings HDFC Bank and ICICI Bank enhanced gains as investors reacted to
their upbeat financial results. Kazakhstan’s Kaspi rallied after it announced plans for a US listing and reported strong profit growth, while Hong Kong-listed insurance company AIA also rose after announcing strong results.

Technology and internet names were weaker due to negative headlines on China regarding geopolitical tensions and the regulation of artificial intelligence. This negatively impacted the positions in Taiwanese companies Taiwan Semiconductor Manufacturing Co and Mediatek. The sell-off in these stocks has
largely been in response to short-term negative sentiment and we retain a positive fundamental view of the companies.

On a rolling 12-month basis, the Company recorded NAV and share price returns of -7.4% and -9.3% respectively, compared to -6.6% for the index.

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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Fidelity International

More articles like this

Fidelity Emerging Markets

Emerging Markets climbing world bank GDP Rankings

The world’s leading Emerging Markets (EMs) are moving rapidly up the World Bank’s latest GDP rankings in PPP terms (purchase power parity) as well as the annual foreign direct investment (FDI) confidence ranking, according to management consultancy Kearney, and are starting

Fidelity Emerging Markets

Navigating Emerging Markets

As global markets grapple with interest rate uncertainty, RBC BlueBay Asset Management EM Sovereign Strategist Timothy Ash and KraneShares Senior Investment Strategist Anthony Sassine join Market Domination to offer tips for how investors should navigate emerging markets at

Fidelity Emerging Markets

Emerging Markets to surpass Western economies by 2050

Emerging markets (EMs) will overtake the Western world in terms of the collective nominal size of their economies by 2050, with China and India as the second and third largest behind the US, according to Capital

Fidelity Emerging Markets

Emerging Markets show solid growth in 2024 first quarter

Emerging markets continued to expand at a solid pace midway into the first quarter of 2024, supported by broad-based expansion across both manufacturing and service sectors. India remained the brightest spot in the emerging market space,

Fidelity Emerging Markets

Where to find value in Emerging Markets

Investors should not view emerging markets as a uniform group. They span the spectrum in geography, development and degrees of resiliency. This creates a diversified opportunity set for portfolios. A judicious combination of emerging market exposures

Fidelity Emerging Markets

Record inflows in Indian ETFs and growth prospects for 2024

If the emerging markets universe had an anointed darling last year, it would be India – and the momentum is still growing. Net inflows into exchange traded funds (ETFs) focused on Indian stocks shattered records in 2023, clocking

Fidelity Emerging Markets

Exploring Emerging Market trends for achieving the 2030 agenda

Hadia Choudri, Senior Lecturer (Innovation and Entrepreneurship) at The University of Law Business School, examines the underlying trends of emerging market economies for reaching the ambitious 2030 Agenda In the dawn of a new age, the working procedure

Fidelity Emerging Markets

Navigating Emerging Markets in Africa and Eastern Europe

In exploring the business landscapes of emerging markets in Africa and Eastern Europe, I’ve been struck by a recurring theme: There’s a profound underestimation of their complexity and potential. My extensive experience working with leaders across

Fidelity International

Fidelity Emerging Markets January Factsheet, Financial stocks gain

Fidelity Emerging Markets Limited (LON:FEML) has announced its monthly factsheet for January 2024. Portfolio Manager Commentary Emerging market equities delivered negative absolute returns and underperformed developed markets in January. Sentiment was driven primarily by the US Federal

Fidelity Emerging Markets

What is driving emerging market returns in 2024?

Emerging markets have never been homogenous, but in 2023 their fortunes diverged more than ever before. On the one hand was China, where stockmarkets slumped for a third consecutive year. On the other was India, Latin