Half-year Report
Half Year Report for the six months ended 31 December 2023 · Fidelity Emerging Markets Limited reported a Net Asset Value (NAV) return of +3.2% and a Share Price Total Return of +7.5% in the six months ended 31 December 2023 · The Company’s benchmark index, the MSCI Emerging Markets Index, rose +4.4% over the same timeframe · During the period, the Company’s short book added over 100bps to relative returns · The portfolio managers remain focused on looking for well capitalised businesses with under-levered balance sheets in the long book and making use of the Company’s