Genesis Emerging Markets Fund Ld Edison review on Genesis Emerging Markets Fund
October 16 2019 - 9:57AM
RNS Non-Regulatory
TIDMGSS
Genesis Emerging Markets Fund Ld
16 October 2019
London, UK, 16 October 2019
Edison issues review on Genesis Emerging Markets Fund (GSS)
Genesis Emerging Markets Fund (GSS) was launched in 1989 and is
one of the first funds listed in the UK focused on this asset
class. Its objective is to deliver capital growth over the long
term through investing in high-quality companies listed in, or with
substantial exposure to, emerging markets. Unconstrained by index
considerations, the portfolio reflects the highest-conviction
investment ideas from a team of emerging markets specialists. The
fund has a solid long-term track record of outperforming the MSCI
Emerging Markets Index and, over the past 10 years, has delivered
an annualised NAV total return of 8%. Investor appetite for the
asset class is currently subdued; however, the manager has a
long-term investment horizon and is finding exciting
opportunities.
GSS trades on a 10.5% discount to its cum-income NAV, which is
narrower than its three-year average of 12.2%. The board recently
introduced several measures to broaden the appeal of the fund,
including a further tender offer if the fund's NAV total return
over five years to June 2021 does not exceed that of its benchmark.
Combined with continued solid performance and the potential for
improved sentiment towards emerging markets, there is scope for the
discount to narrow.
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