8 Jun 2021 07:00
London, UK, 8 June 2021
Edison issues update on Genesis Emerging Markets Fund (GSS)
Genesis Emerging Markets Fund (GSS) continues to benefit from diversification across a range of sectors and countries. It has performed competitively in the ongoing recovery and is well positioned to take advantage of a further broad-based recovery in emerging markets (EMs). Genesis has a real impact on investee companies, by actively engaging with them. At Genesis, the asset management group, portfolio managers (PMs) engage with companies directly, thus allowing constructive dialogue with them. The company considers this to be one of the key differentiators for the fund. As an active investor, Genesis regards proxy voting as one of the key stewardship tools to support, influence and challenge portfolio companies' decisions. ESG considerations directly affect portfolio outcomes as they are a key determinant of the sizing of individual investments in the portfolio.
GSS's key objective is to protect and grow long-term shareholder value, which it has achieved over the medium and long term. The trust's NAV returned 89% over 10 years. The chart above illustrates GSS's NAV outperforming (above the 100 grey baseline) the MSCI Emerging Markets Index over a three-year period on a total return basis. EM is the firm's only asset class and all its resources are deployed towards managing EM equities, which is one of GSS's differentiating features. The other key feature is Genesis's in-house approach to environmental, social and corporate governance (ESG), which we discuss in this report.
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