Fidelity International is set to replicate the strategy of the open-ended FAST Emerging Markets fund when it takes control of the Genesis Emerging Markets trust in September, but the firm is also looking to include pre-IPO companies in the £1.2bn portfolio.
Nick Price, who manages the £371m FAST fund and will take on management of Genesis, said the trust will start off "identical" to the FAST fund in a shareholder presentation on 13 July. "Over time, we will be able to invest into pre-IPO companies," he added. Price said he would be considering allocating 3% to 4% of the portfolio in unlisted companies, but will be starting "slowly and deliberately". Fidelity takes over Genesis EM trust as incumbent's strategy no longer 'aligns' with board Monica Tepes, investment companies research director at finnCap, said differentiation to the...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
