Evidence and analysis
- Share-class currency
- EUR
- ISIN
- LU0303816705
- Hedging status
- Not inferred from currency; consult the exact share-class factsheet.
The fund's base currency, shown in the prospectus description below, can differ from this share class's dealing currency. All benchmark comparisons above use the stated share-class currency.
Benchmark: MSCI Emerging EMEA Capped 5% Index (Net)
| Period | Fund | Index | Gap (pp) |
|---|---|---|---|
| 1 year | 26.3% | 13.3% | +13.0 |
| 1-year: Outperforming | |||
| 3 years | 92.5% | 48.1% | +44.4 |
| 3-year: Outperforming | |||
Gap = fund minus index in percentage points. Returns are cumulative, with dividends reinvested, in the share class currency. Includes ongoing charges; excludes entry/exit fees. Based on Fidelity's rounded comparison table. A negative gap indicates underperformance for that period.
Latest Official Fund Data
| Metric | Current official value |
|---|---|
| NAV (EUR) | 23.3100 |
| NAV date | 2026-10-23 |
| Daily NAV change | -0.3600 (-1.5209%) |
| 1-year performance | 26.2575% |
| 3-year performance | 92.4847% |
| Performance date | 2026-09-30 |
| Fund type | Equity Fund |
| ISIN | LU0303816705 |
Source: Fidelity Hong Kong mutual-fund directory, retrieved 2026-10-26. Observation dates are shown separately; performance figures are reproduced from the official directory in the share class currency. Historical risk and return analysis below has not been recalculated by this directory refresh.
Portfolio Manager
Zoltan Palfi, Nick Price
The Fidelity Funds - Emerging Europe, Middle East and Africa Fund A-ACC-EUR page has been refreshed from Fidelity Funds’ April 2026 Hong Kong Extract Prospectus. The PDF fund description is for Emerging Europe, Middle East and Africa Fund.
Investment Objective
The fund aims to achieve capital growth over the long term.
Investment Policy
The fund invests at least 70% of its assets, in equities of companies that are headquartered or do most of their business in less developed countries of Central, Eastern and Southern Europe (including Russia), Middle East and Africa including those that are considered as emerging markets according to the MSCI EM Europe, Mid dle East and Africa Index. The fund may also invest in money market instruments on an ancillary basis.
Investment Process
In actively managing the fund, the Investment Manager considers growth and valuation metrics, company financials, return on capital, cash flows and other measures, as well as company management, industry, economic conditions, and other factors. The Investment Manager takes into account Sustainability Risks in its investment process. For more information, see Sustainable Investing and ESG Integration.
Derivatives and Techniques
The fund may use derivatives for hedging, efficient portfolio management and investment purposes. In addition to core derivatives (see How the Funds Use Instruments and Techniques), the fund intends to use TRS. TRS (including CFD) usage Expected 0%; maximum 10%. Securities lending Expected 15%; maximum 30%. Repos/reverse repos Expected 0%; maximum 30%.
Benchmark
MSCI emerging EMEA Capped 5% Index. Used for: risk monitoring, and performance comparison. The fund invests in securities of the benchmark, however, the management of the fund is discretionary, therefore the fund may invest in securities not included in the benchmark, and its performance over any period may or may not deviate significantly from that of the benchmark.
Base Currency
USD.
Main Risks
- Concentration
- Counterparty and collateral
- Currency
- Derivatives
- Emerging markets
- Equities
- Hedging
- Investment fund
- Liquidity
- Market
- Operational
- Russia
Risk Management Method
Commitment.
Source
- Fidelity Funds, April 2026 Hong Kong Extract Prospectus:
data/fidelity/pr.ff.HK-en.HK.pdf