9 May 2019 16:10
London, UK, 9 May 2019
Edison issues review on Genesis Emerging Markets Fund (GSS)
Genesis Emerging Markets Fund (GSS) was launched in 1989 and was one of the first emerging markets funds to be listed in the UK. It aims to deliver long-term capital growth through investing in emerging and frontier markets. The investment approach is bottom-up and patient, involving proprietary and bespoke research to build in-depth knowledge of companies, sectors and countries. Unconstrained by benchmark considerations, the diversified portfolio is meaningfully differentiated from the index and consists of the manager's highest-conviction stocks.
GSS's current discount to cum-income NAV of 9.3% is narrower than its three-year average of 12.4%. The discount is a key focus for the board, which has committed to a tender offer for 25% of issued shares in June 2021 should the fund's performance lag the benchmark over the preceding five years.
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