Fidelity separates Russian assets from EMEA fund via split to new sustainable portfolio

New Sustainable EM Equity fund

clock • 2 min read

Fidelity is set to split the assets of the firm’s Emerging Europe, Middle East and Africa fund, isolating its Russian assets in an “external side-pocket” while it attempts to close the fund.

The split, which will occur on 24 March, will see all assets of the fund transferred to the new Fidelity Sustainable Emerging Markets Equity (SEME) fund, except for its Russian holdings. A Fidelity spokesperson explained that "existing Russian holdings will remain in the EMEA fund, effectively making it an ‘external side pocket'". Investors in the EMEA fund will continue to hold shares in the fund, while also receiving an equal number of shares in the new SEME fund. The SEME fund will have a "new and differentiated investment policy" to the previous fund, a Fidelity spokesperson sa...

To continue reading this article...

Join Investment Week for free

  • 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

Join now

 

Already an Investment Week
member?

Login

More on Emerging markets

Four Graphs explaining India

Four Graphs explaining India

Four experts write

Investment Week
clock 12 February 2024 • 4 min read
JEMI's Omar Negyal: Emerging markets are well positioned to support AI boom

JEMI's Omar Negyal: Emerging markets are well positioned to support AI boom

Early adaption is key

Omar Negyal
clock 11 January 2024 • 2 min read
TSMC and Infosys most frequent top ten holdings across JP Morgan AM trust stable

TSMC and Infosys most frequent top ten holdings across JP Morgan AM trust stable

Emerging markets dominate

James Baxter-Derrington
clock 10 January 2024 • 1 min read
Trustpilot