1 Dec 2020 08:00
London, UK, 1 December 2020
Edison issues review on Genesis Emerging Markets Fund (GSS)
Genesis Emerging Markets Fund (GSS) remains broadly diversified across a range of sectors and countries and is well positioned to take advantage of a further broad-based recovery in emerging markets (EM). In addition, the management team is always on the hunt for refreshing investment themes. EM equities are climbing rapidly back to pre-COVID-19 heights, to the level seen in the 11-year equity bull market, before it corrected sharply in response to the coronavirus pandemic. Stock markets have a history of survival and full recovery from major systemic shocks, and the long-term outlook for EM remains positive.
The chart above illustrates that EM might have bottomed out and so might present a good entry point for investors. GSS's portfolio of 101 holdings (at 31 October 2020) is diversified geographically and by sectors, with thematic exposures, including digital wallets, which is a theme introduced in this report. Karen Roydon, a GSS portfolio manager, who spoke to us recently, highlights that not all digital wallets are created equal. While GSS expects the theme to grow further within the portfolio and contribute positively to the fund's future performance, the team studies
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