Genesis Emerging Markets Fund Limited

Genesis Emerging Markets Fund Limited

Genesis Emerging Markets Fund Limited is an authorised closed-ended collective investment scheme. Its investment objective is to achieve long-term capital growth, primarily through investment in equity markets of developing countries. The company was founded on June 7, 1989 and is headquartered in St. Peter Port, Guernsey.

Fund GSS-GB
Last Price 7.48
Change 0.03 (0.40%)
Date 25/09/2020

Range
12 Month
5.40
5.40
7.48
8.20
8.20
3 Years

Prices shown are based on the intraday share price.

 

 

Investment Style

Bottom-up, fundamental stock selection to build a long-only portfolio of high-quality companies in global emerging markets.

 

Investment Philosophy

Genesis believes excellent long-term investment performance in global emerging markets can be best delivered by working as a team to make investments in quality businesses at attractive prices. Our emerging markets investment thesis is based on our conviction on the faster growth potential of the low- and middle-income economies compared to the high-income economies due to demographics and economic convergence, and the mispricing opportunities available in these markets. Our opportunity set includes companies domiciled in low- and middle-income economies defined by the World Bank as well as high income economies included in the major EM benchmark indices, and those that generate a significant proportion of their revenues, profits or cashflow from global emerging markets.

We believe our fundamental, research-led process allows us to benefit from the growth and mispricing that exist in global emerging markets. Our investment process is structured to enable a cohesive team of experienced portfolio managers to generate fundamental research insights and, subject to rigorous challenge, express those insights in the portfolio. As long-term investors, we believe the sustainability of our portfolio companies’ business practices and their impact on all constituents including the environment, society, employees and shareowners are integral to the assessment of quality in our investments.

 

 

Investment Team

Andrew Elder
PARTNER & PM
Joined Genesis in 2002
27 years investment experience
Catherine Vlasto
MANAGING PARTNER & PM
Joined Genesis in 1995
31 years investment experience
Arindam Bhattacharjee
MANAGING PARTNER & PM
Joined Genesis in 2008
29 years investment experience
Rufus Frazier
PARTNER & PM
Joined Genesis in 2013
15 years investment experience
Xing Hu
ASSOCIATE PARTNER & PM
Joined Genesis in 2018
10 years investment experience
Richard Mather
PARTNER & PM
Joined Genesis in 2013
7 years investment experience
Sebastian Peters
PARTNER & PM
Joined Genesis in 2016
10 years investment experience
Karen Roydon
PARTNER & PM
Joined Genesis in 2006
18 years investment experience
Mario Solari
PARTNER & PM
Joined Genesis in 2014
16 years investment experience
Yiyong Yang
PARTNER & PM
Joined Genesis in 2004
17 years investment experience
Michael Chi
ANALYST
Joined Genesis in 2017
3 years investment experience
Yash Sidana
Analyst
Joined Genesis in 2019
4 years investment experience

 

 

Semi-Annual Investor Conference Call

The semi-annual investor conference call provides an update on the Fund’s performance and positioning. Please find below recordings of the most recent call, together with the presentation.

 

Performance

Note: Daily data shown for periods up to one year. For periods beyond one year weekly data is shown. Fund Performance shown is exclusive of dividends.

 

Performance as at 28 August 2020

1 Month 3 Months 1 Year 3 Years 5 Years Since Inception*
Share Price 4.81% 14.74% 2.87% 4.95% 12.51% 10.89%
NAV 2.74% 11.87% 1.44% 4.13% 12.54% 11.33%
MSCI Emerging Markets (TR) Index 0.22% 10.53% 4.49% 1.90% 12.12% 9.56%

 

2019 - 20 FY 2018 - 19 FY 2017 - 18 FY 2016 - 17 FY 2015 - 16 FY
Share Price -3.32% 11.11% 8.48% 20.83% 7.14%
NAV -0.77% 8.95% 6.88% 20.62% 8.71%
MSCI Emerging Markets (TR) Index -0.14% 5.40% 6.84% 27.79% 3.87%

* Since inception performance from 6 July 1989.

Past performance should not be relied upon as a guide to future performance, which is not guaranteed. The value of investments can go down as well as up and there is no guarantee that you will get back the amount originally invested.

Source: Genesis/Morningstar. Fund Performance – NAV to NAV in GBP. Net of all expenses, including management fees and tax suffered. Net income reinvested. Index Performance is based upon index values supplied by MSCI. The returns of market indices are provided for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the return of the fund and the indices shown.

 

Valuation Statistics

24/09/2020 1 Yr High 1 Yr Low
Share Price in GBP 7.45 8.20 5.40
NAV in GBP 8.58 9.14 6.71
Discount/Premium -13.19% -8.46% -18.51%

 

Key Statistics

NAV in GBP 8.58
Market Capitalisation (GBPm) 908.57
Dividend Yield % 2.0%
Gearing % 0.00%
12M Average Daily Shares Traded 64,114.60
12M Average Daily Value Traded (GBPm) 45.34
Management Fees 0.90%
Custodial, Administration & Other Fees 0.16%
Total Expense Ratio 1.06%
Domicile Guernsey
Legal Structure Closed-Ended Investment Company
Traded Currency GBP
ISIN GG00B4L0PD47
Launch Date 06/07/1989
Financial Year End 30 June
Annual General Meeting November
Interim Results Announced February
Final Results Announced September
NAV Frequency Daily

Data correct as at last close.

 

Sell-Side Research on GEMF

 

Directors

Hélène Ploix
Russell Edey
Sujit Banerji
Dr Simon Colson
Saffet Karpat
Katherine Tsang

Non-Executive Chairman
Senior Independent Director
Independent Non-Executive Director
Independent Non-Executive Director
Independent Non-Executive Director
Independent Non-Executive Director

 

 

News

LSE Announcements

This link will take you to the Genesis Emerging Markets Fund announcements page on the London Stock Exchange website.

 

Documents

ESG

2019 GIM Annual ESG Report

Genesis Investment Management, LLP is a signatory to the United Nations-supported Principles for Responsible Investment (“PRI”). Genesis’ PRI Transparency Report and information on the PRI’s assessment methodology is available on the PRI website (www.unpri.org).

 

How to Invest

Brokers

JP Morgan Cazenove
+44 (0) 20 7742 4000

Jefferies International Limited
+44 (0) 20 7029 8000


For further information on how to invest in the Company, prospective shareholders should contact their financial advisor.

 

This Data is provided by Genesis Investment Management, LLP (“Genesis”) which is authorised and regulated by the Financial Conduct Authority (“FCA”). Registered office: 21 Grosvenor Place, London SW1X 7HU. Registered in England, number OC306866. A member of the Investment Association.

All investments and services mentioned are directed at persons who are Professional Clients or Eligible Counterparties as defined by the FCA and to persons falling within the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 and should not be relied upon by Retail Clients. It does not constitute investment advice and should not be used as the basis of any investment decision, nor should it be treated as a recommendation for any investment. Under no circumstances should any part of this information be construed as an offering or solicitation. Subscriptions to shares of the Fund can only be made on the basis of the current prospectus, the relevant Key Investor Information Document, accompanied by the latest available audited annual report and the latest semi-annual report if published thereafter.

Past performance should not be relied upon as a guide to future performance, which is not guaranteed. The value of investments can go down as well as up and there is no guarantee that you will get back the amount originally invested. Your investment should be viewed as long term. Genesis invests in emerging markets which tend to be more volatile than more established stock markets and therefore your investment is at greater risk. You should be aware that currency movements can affect the value of your investment. Other risk factors such as political and economic conditions should also be considered.

This data has been prepared by Genesis on the basis of information and sources believed to be reliable. This may not be reproduced in whole or in part without the prior consent of Genesis. Other statistics in this document are from a variety of publicly available information obtained through Genesis’ research.

 

 

 

 

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