The fund’s investment objective is to achieve long term capital growth by investing in the emerging markets of the world. The fund will invest in equity or equity related securities (including warrants and convertible securities) and fixed interest securities which provide exposure to emerging markets. The portfolio may also include shares in investment trusts and other closed end funds which are themselves dedicated to investment in emerging markets, as well as in securities of companies which, whilst listed on eligible stock exchanges, conduct a significant proportion of their business in emerging market countries and may, therefore, be expected to participate in their growth. Investment will be in directly held transferable securities. The fund may also invest in collective investment schemes, warrants and money market instruments.
Global emerging markets performed impressively over the quarter against a background of generally buoyant investor confidence and continued evidence of strong economic growth in many of these countries. The fund benefited from this favourable environment, delivering a good return.
217.10p
